A 2009 report from Harvard Medical School showed that medical debt was the primary reason why most American’s file chapter 7. This came as a huge surprise to the people who had concluded that credit card debt was number one. While there are other factors that contribute to your financial difficulties, unpaid hospital bills and the cost of treatment were the leading causes. As unemployment has continued to increase, the number of American’s who have comprehensive insurance through their work has continued to decline.

Charitable Assistance with Hospital Debt

Now that you appreciate that you aren’t the only person with financial difficulties, it’s necessary to decide how you should tackle your debts. It’s worthwhile consulting the hospital to see if they know of any charities that’ll help you to deal with unpaid medical bills. While they can’t help everyone who is unable to pay for the cost of medical attention, they do provide financial assistance to the people who have the greatest need. They operate by measuring your requirement for assistance against the federal poverty limit.

Challenging the Validity of Medical Bills

There are professional companies that will challenge the amount that you’ve been billed for your time in hospital. It’s often surprising to discover the costs and expenses that have found there way into your final bill. Sadly, most people lack the knowledge to challenge this information. An experienced consultant is invaluable because he understands what’s involved with an operation and how much it should cost you. If the figures are wildly different or you’ve been billed for expenses that aren’t involved in the operation, they’ll find and challenge these on your behalf in return for a fee.

Eliminate Medical Debt with a Debt Relief Program

If you have many unsecured debts and can comply with the 2005 bankruptcy code, you’re likely to find that filing chapter 7 is the best debt relief program. You can eliminate most of your debts in less than 6 months without having to make a repayment to your creditors at month end. You’ll also get full court protection from your creditors. However, you won’t meet the criteria if your income is above the state average or you have filed chapter 7 in the last eight years. If this is the case, it’s advisable to decide if a bankruptcy alternative is better for you.

A debt settlement program enables you to clear up to 50% of your debt and make a comfortable payment to your creditors. Unlike filing for bankruptcy, you won’t get any court protection from your creditors, but they’re less likely to pursue you because they’re receiving a payment each month. If you owe lots of creditors small amounts of money, a debt management plan may offer a superior way of negotiating your money problems.

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