Should i file for bankruptcy?

Question

I currently owe $3400 in hospital bills. But have no way to pay them off. No one in my family has much to give, even if they were willing to help out.
I am currently 24 years old, with just a part time job, making very little money. I was thinking of moving back to the philippines where tuition for school woud be cheaper, and i can get a degree in nursing.
I'm trying to think of what the best thing for me to do is.
What are the disadvantages of filing for bankruptcy?
Please help anyone. I really need it.

i appreciate the responses so far, guys.
for those that asked, trust me i am looking real hard to find a job that pays more money, and i am willing to work hard no matter what kind of job it is.
I need to do more research on bankruptcy, how much would it cost me to file, for $3400 medical bill?

I really want to buy a house in the future, hopefully before age 32, but how hard would that be if i'm in bankruptcy?

Thanks a lot for the responses! it really feels i'm getting helped out already.
First i will, take account every response given to me.
Still living with my parents, helping them pay the financing on the mortgage alone (not the principal), with a part time job so far, is the situation i'm in.
Again i really appreciate the responses.

Answer 1

$3400 is not enough to be filing for Bankruptcy.... Sure, at this time considering your bills and the income coming in it seems that you will never be able to have free cash to pay off the $3400 but don't worry... eventually you will pay it off, try to at least make your minimum payments and DO NOT file for bankruptcy!!!

Bankruptcy will follow you for the next 7 to 10 years of your life, it will ruin your credit and will keep you from getting the best interest rates when buying a car or a home! Later on in life you will realize that $3400 is not enough to ruin your credit!--- Dont do it... Contact the Hospital, perhaps they have some type of charity care or program that can help individuals like you that cannot afford the bills!

Answer 2

Yeah, I agree with the people above. Filing for bankruptcy is not a good idea. If you are even making minimum wage...if you find a way to basically work your @ss off (if that even means having 2 or 3 part time jobs) for just two months doing 60 hours a week, that comes to approximately $3360. Little easier said than done, but it's really possible. I also saw someone mention collections. I don't know a whole lot about it, but a guy I work with has credit card debt of over $1800 in collections. He said he talked to a lawyer and there's a loophole that could possibly work to where if you were to write a check out for a penny to the company that you owe, and they don't bother cashing it, then it's considered refusing payment, so then you would not be liable to pay the rest. Don't know how legit that is because I heard it just from him, but if you want to try to cheat the system you can always have it go to collections and try that...maybe you'll get lucky and they won't realize what you are doing. Anyways, best of luck to you.

Answer 3

First you should try getting a full time job that pays more money. Second, I am assuming that your credit is not the greatest...but, do you have anyone in your family who's credit is good? They can take out a personal loan for you for how much you need. Then you can pay off the hospital bills with that and make the monthly payments on the loan. You need to do something. I wouldn't file for bankruptcy yet. I would wait and see if there's anything you can do to get out of this. It could be a lot worse..you could be way more in debt. Try calling a debt consolidaton program, too. But, first and foremost get a more stable job.

Answer 4

No way! The $3400 going into collections wouldn't hurt you as bad as if you filed bankruptcy for it. Have you tried calling their accounts payable dept and explaining the situation that it is just impossible to pay it. Let them know you are willing to bring your paycheck stubs and bank statements to prove it. If they are humane at all they will work with you.If you can pay $5 or $10 a month and are always on time, even though it's not much, there's nothing they can say to you. There's no way with you working a part-time job they can make you pay it. They can't take it out of your paycheck unless you work full time. And even if you can't pay it, don't worry about it. It will go to collections but they can't do anything either. I had a friend who just found out about a large amount in collections from when her son was in daycare and he's 18 now. They bugged her about it but after sending it to collections they dropped it. It is really cool though you take the time to worry about this. Most people our age just throw the bill away. But really, $3400 isn't enough for them to come get your stuff or put you in jail. You would have to owe like 340,000.

Answer 5

DO NOT file for bankruptcy if you can help it. You're young and you can bounce back before you know it. A bankruptcy will HURT in more ways than you know. Most lenders DON'T count hospital bills against you in terms of debt or payment other than what it does to your credit score. As you improve your credit score, save money for yourself at the same time you pay off your debts and before you know it, you'll be in a MUCH better financial position...

Good banks will never work with someone who's had a bankruptcy-- which leaves you at the mercy of brokers & more creative "lenders" who can happily take advantage of your situation... & they will. (I know because I was one for a while.)

DO get yourself a job and make some $$$ while you pay to put yourself through school in order to improve yourself.

There's nothing wrong w/ getting an A.A. degree from a local community college & then transfering to a state college or university. Most colleges also have all kinds of jobs or positions open for students to get paid... and decent contact potential for you to meet others and help each other improve.

Trust me when I say that I've seen many people in MUCH worse situations than you. They WISH they only owed $3400 in medical bills. Even $34,000 would be nice given their situations.

If you can avoid it, do NOT file bankruptcy. I don't care what others might say... Your credit score might shoot back once you're through the BK, but the BK will stay on your credit report and *will* haunt you the rest of your life.

... (Time passed while I read others' responses...) As a conservative democrat / liberal republican... Please do NOT whine to anyone in Congress- either state or federal. It's not their job to pay for your bills. It's YOUR responsibility. Suck it up and Pay it.
The Office of Medical Assistance is a great idea. The hospital WILL work with you. (As a matter of fact, I bet you could get a job IN the hospital if you look hard enough...)
Try not to negotiate to pay for less than you owe. Just work out a payment plan to pay it off over time. $3400 is not that much and if you're making good money (which nurses DO make) you can do that in a reasonably short period of time.

You're young, you're smart, you're good looking, and people like you enough to give you advice here so they'll like you enough to give you a shot when it comes to a job. Just don't QUIT. & don't lose hope. Things WILL get better. I promise.

Answer 6

you only file bankurupcy if you cannot pay your debt in your lifetime

you dont file bankurupcy over 3400 dollars. That would be the most stupidest thing you can do.

Make some phone calls to your debtors and tell them you need help with some kind of payment plan. Work hard and pay it off. You should be able to pay this off in 1 year. Which is a lot better than 10 years of having a bankurupcy on your report.

My husband had a bankurupcy on his report and it ruined us for 10 years. We couldn't get a loan for anything

Answer 7

Do not file bankruptcy for medical bills. Contact the billing company and tell them your situation and that you will be moving back to the phillippines and that you would be willing to make monthly payments that you can afford and make sure you get their agreement to the payment plan in writing and then make the payments. They would much rather work with you than to get nothing which is what they would get if you filed bankruptcy or left the country.
Most creditors will work with you and take less then you owe if you will contact them. Just make sure you get everything in writing including a letter stating that the debt has been paid once you pay off the debt.
Good Luck

Answer 8

Don't file over $3400. You'd be better off going into collections. Most creditors don't even bother with amounts under $3000; it cost them more to collect than the debt is worth. Particularly the medical field is more willing to negotiate than most creditors.

For good information on money problems go to nolo.org. They can give you legal strategies for keeping the wolves away from your door!

Answer 9

1. Call the hospital and ask them for their office of medical assistance (they have them if you ask).

2. Tell them your problems...and ask for their help.

3. You can get help from the state's welfare assistance office.

Yes, your need for a good education and going back to the Philippines is a good idea, and nursing is a great idea...only if all of that is safe and works for you.

Call your state senator and state representative, call your federal senator and congresspeople's office - now that the democrats are back in power, lean on them,
and don't stop telling your story and ask for help....until you get the help.

You have a right to be happy. You have a right to get the help you need, and sometimes being a good "salesperson" by asking asking and asking again, is the only way to get the job done.

Forget the bankruptcy thing...it stops your getting ahead for the rest of your life...believe this $3,400 was not even the overnight stay at the cardiac unit was in last month!

My best regards to get you this help.

Answer 10

If all you have is $3400 in hospital bills, you don't have much to worry about. You can still buy a house with that, because mortgage companies don't even look at medical collections.