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How do I do this? How expensive is it?

I have a credit card that has never been late, limit is $1,000 and I have $600 on it, would I have to close that?

The rest are medical bills. About $15k in them, easily.

I have no car or house in my name. Never have.

Answer Question

Asked by Anonymous at 5:34 PM on Aug. 2, 2010 in Money & Work

Answers (4)
  • Contact an attorney in your area and file. Depends on your area it is usually 1200.

    Honestly it isn't a good thing for you to do if you only have that credit card you can pay that off instead of the attorney fee and wont have the BR on your credit for the 7 years. You medical can be put on a payment plan.. You will only be able to file a chapter 13 and you will still be paying monthly on the debt but at a consolidated with everything. But you wont pay as much back.. call talk to attorney in your area and see what they can do for you.. GL

    Answer by Claudiomom at 6:41 PM on Aug. 2, 2010

  • I agree. Contact an attorney. The last time I checked it was about $1,000.00 here in Missouri. Yes, you will have to write down every bill that you owe. They will file against everything. You cannot keep your credit card, you would have to file against that as well. With $15,000.00 on medical bills, you would certainly qualify. If you cannot work anything out with the facilities, I would strongly encourage you to talk to an attorney.

    Answer by m-avi at 7:49 PM on Aug. 2, 2010

  • Like the others said, contact an attorney. Don't be afraid to shop around either.

    I would also recommend checking out Dave Ramsey's book, My Total Money Makeover. If you can get out of debt without going bankrupt i think that would be worth a shot.

    Bankruptcy stays on your credit report for 10 years. It affects your credit score, your insurance, deposits etc. I just filled out an application to get life insurance and it asked if I had ever filed for bankruptcy. So it might be on your credit report for only 10 years, but some applications will ask if you've ever filed.

    It can also make it difficult to buy a home in the future- but that will probably only last a few years.

    Sorry if you already knew all that. When and if you talk to the attorney remember that s(he) does bankruptcies for a living. So their advice might not be in your best interest.

    GOOD LUCK! Sorry you are going through this.

    Answer by Erica_Smerica at 8:07 PM on Aug. 2, 2010

  • I would look into trying to obtain a personal loan with a decent low interest rate to pay off your medical bills. $15,000 over the course of 3 years or so, would translate to about a manageable $400 or so per month--depending on the interest rate and loan term. And it would be FAR better than claiming bankruptcy!!

    Also, have you talked to the billing department at your hospital? They may be willing to work out a payment plan with zero interest and maybe a reduced rate! They would rather get some money than no money at all!

    Answer by LoriKeet at 10:55 PM on Aug. 2, 2010

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