If you file for chapter 7 then your medical bills as well as the balance of the credit card debt will likely be discharged. If you're income allows you to make some monthly payments, then you may have to file for chapter 13. In this type of bankruptcy, a monthly payment will be established based on your disposable income. From this payment, your secured creditors will be repaid first, and if there is anything left over, some will go to your credit cards and medical bills. Any remaining medical and credit card debt will be discharged once the repayment plan has been completed.
Talk to a Bankruptcy Lawyer to learn more about how bankruptcy can help you, and whether it's the right choice for your financial situation.
Good luck.
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Answer: (1)
If you file for chapter 7 then your medical bills as well as the balance of the credit card debt will likely be discharged. If you're income allows you to make some monthly payments, then you may have to file for chapter 13. In this type of bankruptcy, a monthly payment will be established based on your disposable income. From this payment, your secured creditors will be repaid first, and if there is anything left over, some will go to your credit cards and medical bills. Any remaining medical and credit card debt will be discharged once the repayment plan has been completed.
Talk to a Bankruptcy Lawyer to learn more about how bankruptcy can help you, and whether it's the right choice for your financial situation.
Good luck.
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Posted by Staff Writer on 14 Apr 2010