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bankruptcy help?

okay i am some where over 17,000 dollars in debet to medical bills. our insurance had dropped us because we couldnt pay all of our bills we would get sued by one and only able to pay that of then the next would come... can i file for bankruptcy for this? has anyone done this and how does it work. im struggling so bad please any help would be great.

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Asked by Anonymous at 12:05 PM on May. 1, 2010 in Money & Work

Answers (1)
  • Yes you can file bankruptcy on it, but it seems kind of pointless since it's only $17000 in debt.

    First of all they haven't sued you yet, and it may be a while before they do sue you. Secondly you can settle the debt. Scrape together say $1000 and offer it to the person that you owe $2000 to as settlement in full. Get it in writing, don't give them access to your checking account, and send them a cashiers check. You could probably settle most of these debts- depending on how long it's been- for 50 cents on the dollar. So what you are asking is should you file bankruptcy on $8500 worth of medical debt? NO.

    Get your act together, get on a written budget, start piling up cash to settle with them, get another part time job if needed, cut out expenses you don't need, and you'll be able to pay them off very quickly.

    Also check out or the Dave Ramsey group on Cafemom.

    Answer by Anonymous at 12:42 PM on May. 1, 2010

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