Austin Medical Debt Attorney:
In a study conducted by a Harvard medical doctor that was published in the prestigious American Journal of Medicine, it was determined that medical debt was directly or indirectly the cause of more than 60% of all bankruptcies. And this study was conducted before the current recession financially crippled millions of Americans and Texans. In fact, the author predicted that bankruptcies caused by overwhelming medical debt would increase in the coming years. If you are inundated with medical debt, relief is available. You can eliminate medical and other forms of debt in a bankruptcy proceeding. The Fears Nachawati Law Firm offers a complimentary case evaluation to assess your situation and help you choose a viable solution for your specific situation. To schedule your free case review, call us at 966-250-3002.
Chapter 7 Bankruptcy for Eradicating Medical Debt:
If you have mounds of medical debt and other forms of unsecured debt, the Chapter 7 bankruptcy can provide the relief that you need. In a Chapter 7 bankruptcy, there are numerous benefits:
- The automatic stay goes into effect at the moment of filing.
- This has the effect of instantly preventing creditors from contacting you for repayment of medical and all other debts.
- The Chapter 7 bankruptcy will normally wipe out all unsecured medical debt.
- Additionally, the Chapter 7 bankruptcy will also normally discharge all other unsecured debt, such as credit card debt.
- Ask your Nachawati bankruptcy attorney if Chapter 7 is right for you.
Chapter 13 Bankruptcy and Medical Debt:
The Chapter 13 bankruptcy is well suited for those who have a predictable, steady source of income and who wish to pay back their debts in a manner that they can afford over a period of three to five years. Debts will be consolidated and a repayment plan will be made. Although usually you will be required to pay a percentage of your unsecured debts during the repayment period, at the end all remaining unsecured debt will be discharged by the bankruptcy court.
Contact an Austin Medical Debt Attorney for a Free Case Review:
Fears Nachawati is a highly regarded bankruptcy law firm with offices in Austin, Dallas, Fort Worth, San Antonio and Houston. A free case evaluation is available to discuss your case with an experienced bankruptcy attorney. At this meeting, whether in person or on the phone, you will be advised as to the options that may be best suited to relieve you of your medical and other forms of debt. It is then your choice whether to proceed or not. There is no obligation for this confidential case review. To schedule your free consultation, call the Austin Fears Nachawati office at 866-259-3002.