Ventura Medical Debt Relief Attorneys
No One is Immune to Medical Debt
Medical debt is the leading cause of financial ruin across the United States. Healthcare spending in the U.S. is astounding: Americans spend over $3 trillion collectively in healthcare costs every year. A single serious injury or illness can take someone from financial security to being deep underwater in a matter of months. Studies indicate that around a third of all Americans currently owe some kind of medical debt, and of those, around 28 percent owe more than $10,000. Over half of all debtors dealing with medical debt state that they have previously defaulted on that debt, according to a survey taken of workers at companies with over 500 employees. That figure (around 54 percent) represents debtors who have a regular income and are more likely to have health insurance. For individuals without insurance or a steady income, the reality is even worse.
The point is this: If you are struggling with medical bills, you are far from alone. America has a healthcare crisis, and individual consumers are paying the price. There is, however, a light at the end of the tunnel. You have options for finding relief from crippling medical debt, no matter your circumstances. A seasoned and effective California medical debt relief attorney at Rounds & Sutter will review your case and help you chart a path toward financial freedom.
Negotiating and Settling Your Medical Debt
If you are facing heavy medical debts, you have options for relief. A savvy medical debt relief lawyer may be able to negotiate your existing medical debts and reach a more favorable and affordable settlement. Hospitals and other healthcare providers are often willing to negotiate because (a) they understand that their prices often represent more than the costs of service, as they expect insurance providers to push back on the prices they give, and (b) they prefer to accept some payment rather than no payment at all (such as if their debt is discharged through bankruptcy). Your medical debt might have even been sold to a debt collector, who is often willing to accept whatever they can get given that they often purchase debts at discount.
Reducing Your Debt
A thorough review of your medical bills may reveal that you actually owe less than you believe. Hospitals are known to commit billing errors, including double-billing or billing for the wrong type of treatment or consultation. Hospitals may charge you for a full day in a bed even when you are discharged in the morning. They may try to charge you extra for supplies like gloves, gowns, sheets, and other materials that are already included in your daily room charges. They may even accidentally charge you for medications you brought from home.
Carefully review your medical bills with the help of a thorough and detail-oriented debt relief attorney to find out if you have grounds to contest your medical debt as it currently stands and to give you more leverage to negotiate a reasonable settlement.
Discharging Medical Debt Through Bankruptcy
Bankruptcy is no one’s first choice. It is, however, a reasonable and appropriate legal solution for thousands of individuals struggling with medical debt every year. Around 700,000 people a year file for individual bankruptcy, in large part due to medical debt. Bankruptcy provides a way to get completely clear of medical debt and begin charting a path toward a stronger financial future.
Chapter 7 bankruptcy allows individuals to completely discharge all qualifying unsecured debt, which typically includes medical bills. In fact, Chapter 7 bankruptcy filers are often able to protect all of their desired assets through state or federal exemptions. A savvy bankruptcy attorney can help you maximize your exemptions while still discharging all of your medical debt.
Chapter 13 bankruptcy allows individuals with above-median regular incomes to consolidate and reduce their debt, paying back what they can over a three or five-year period. You may be able to pay off all of your medical bills and other qualifying debt over the repayment period, benefitting from a reduced monthly obligation, no interest fees, and being able to discharge any remaining principal balance at the end of the period. Any covered debts that remain at the end of the repayment period are discharged. Talk to a knowledgeable California bankruptcy lawyer about how to qualify for Chapter 13 relief.
Call Rounds & Sutter to Discuss Your Options for Financial Relief
If you are dealing with mountains of medical debt, you have options for relief. Whether your best option is bankruptcy, debt settlement, or some other form of relief depends on your circumstances, your finances, and your preferences. A knowledgeable Southern California medical debt relief attorney at Rounds & Sutter can analyze your finances and walk you through your options for relief. Call our Southern California debt relief legal team today to find out how we can help you find financial freedom. With offices in Ventura, Santa Barbara, Westlake Village and San Clemente, we serve people throughout Southern California seeking freedom from oppressive debt.