Recent medical emergency, resulting in a trip to the ER, before and after a trip to a Cardiac Hospital has shifted my husband and myself from being debt free in less than two years, to having now tens of thousands of dollars in medical bills that no way we can pay, we just don't make enough. Any advice in regards to filing bankruptcy, can they make us sell our home and become homeless. (live rural, so value isn't like Florida or something, most we could get is between 15-22 thousand for the property. Any advice would be so greatly appreciated.....
2007-02-01 02:09:21 · 10 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
If my home was in Miami, it would be worth 40 grand, not here in rural America, home equity loan wouldn't even dent the medical bills!
2007-02-01 02:20:36 · update #1
you can't get medicare/medicade as easily as you think. I qualify for NOTHING....State of Tennesse canceled its TennCare program, so hundreds of thousands of us including 93,000 critically ill patients have no health insurance anymore!
2007-02-01 02:31:43 · update #2
I practice bankruptcy law in California, so I do not know what the homestead exemption is in Florida. You should really see a local bankruptcy attorney for full advice.
For the most part, it is actually state law that determines how much property you get to keep when you file bankruptcy. Protected property is called exempt. Every state has a "homestead exemption" which determines how much of the equity in your home you get to keep when you for for BK.
But before you file for bankruptcy, you need to look at the entire picture. Your house might not be worth much, but what about your cares, investments or other assets? You sound like a good candidate for a Chapter 7, but only a qualified bankruptcy attorney in your state can fully advise you if this is a good option for you.
2007-02-01 15:47:51 · answer #1 · answered by Carl 7 · 1⤊ 0⤋
For a very similar situation a found a great solution at: FINANCE-SOLUTION.US
RE House paid off. Newly aquired major medical bills. Is bankruptcy the only way to go now????
Recent medical emergency, resulting in a trip to the ER, before and after a trip to a Cardiac Hospital has shifted my husband and myself from being debt free in less than two years, to having now tens of thousands of dollars in medical bills that no way we can pay, we just don't make enough. Any advice in regards to filing bankruptcy, can they make us sell our home and become homeless. (live rural, so value isn't like Florida or something, most we could get is between 15-22 thousand for the property. Any advice would be so greatly appreciated.....
2014-10-02 19:29:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You received the treatment so you owe the money. I do not see it as possible that they could make you sell your home. Contact someone at www.moneymanagement.org and see what they can do for you to help you get these on a payment plan. IF you want to do it on your own. Take the bills, figure out what you can afford to pay each month and start paying on them even if it is only $10 a month. If you didn't have insurance why didn't you apply for medicare or medicaid? Speak to the billing about if it's too late to sign up for one of these and get help paying some of the bills. Whatever you do, maintain your personal integrity and don't try to weasel out of paying bills you actually incurred. I understand your position because I'm in a similar one but do the right thing not the popular thing.
2007-02-01 02:21:59 · answer #3 · answered by CHERI S 3 · 0⤊ 0⤋
Would it be possible for you to get a line of credit against your house that would pay off your medical bills? I live in Canada and don't know a lot about the US and how the systems work there, but that is what I would try first-the line of credit. Bankruptcy should be used as a last resort, and no they cannot force you to sell your home-you need a place to live, don't you? Good luck with that!!
2007-02-01 02:18:40 · answer #4 · answered by dragondave187 4 · 0⤊ 0⤋
There is also medical bankruptcy. And it doesn't go against your credit. But like the others said talk with an Atty first.
2007-02-01 02:24:46 · answer #5 · answered by tweet812003 3 · 0⤊ 0⤋
if your house is paid off you can take out a nice home equity loan this would pay those bills and then some!! dont do bankruptcy if you have equity!! thats stupid, go to the bank and get the loan!! you shouldnt have any trouble getting one.
2007-02-01 02:18:54 · answer #6 · answered by toolate 3 · 0⤊ 0⤋
Have you talked to the medical office and tell them the situation? Most of them would gladly work out payment plans with you. Even an ambulance service would give you discount (I've done that).
2007-02-01 02:17:37 · answer #7 · answered by spot 5 · 1⤊ 0⤋
They can't make you sell your house. Speak to an attorney about it. There are different types of bankruptcies.
2007-02-01 02:14:46 · answer #8 · answered by zomal44 2 · 0⤊ 0⤋
Talk to an Atty.
You might want to put your house into a Corporation..
Again, Talk to an Atty.
2007-02-01 02:17:52 · answer #9 · answered by Anonymous · 0⤊ 0⤋
ameridebt.com Avoid bankruptcy at all COSTS!!
2007-02-01 02:17:34 · answer #10 · answered by Anonymous · 1⤊ 0⤋