Medical Debt Bankruptcy Lawyers in Philadelphia

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What is Medical Debt?

Medical debt is any debt you have from things like a hospital, a doctor, or an ambulance ride. If you feel overwhelmed by your current medical debt, we can help. Contact us today for a free consultation!

What Are My Medical Debt Relief Options in Philadelphia?

Medical debt is one of the most common forms of debt in the United States. One study from 2016 found that more than one in four Americans had trouble paying a recent medical bill, and the average hospital stay in the United States costs over $5000 per day. With expensive healthcare costs comes unpaid medical bills and overwhelming medical debt. Medical debt is often also compounded with loss of income due to injury or illness. 

As healthcare costs continue to rise, individuals and families across the country struggle with medical debt. Even with health insurance, medical debt can become overwhelming after illness, injury, after hospital stays, or for the elderly living in assisted living facilities. While declaring bankruptcy may seem like a drastic measure, it is often the best choice for those who fall into debt.

The team at Cibik & Cataldo has handled countless cases of medical debt, so we can help find the best solution for your situation. Even those with health insurance can face serious medical debt after an injury, unforeseen illness, or hospital stays. At Cibik & Cataldo, P.C., we approach each case with care and compassion as well as expertise in debt relief to help you through tough financial situations.

Bankruptcy attorneys Michael A. Cibik and Michael A. Cataldo have years of experience handling medical debt cases. Come in for a free consultation to discuss your debt, income, and options. The team at Cibik & Cataldo offer free consultations as a pressure-free opportunity to discuss your medical debt with an expert, so you can learn more to make an educated decision on how to handle your debt. Bankruptcy may or may not be the solution – there are other debt relief options available depending on your financial situation. Contact Cibik & Cataldo to work with experienced Philadelphia bankruptcy lawyers to find your way out of medical debt.

What percentage of bankruptcies are medical? 

One study suggests that over 62% of bankruptcies in America are due to medical debt, although some argue that the number is lower. 

How do you get medical debt forgiven? 

It is possible, in some cases, to negotiate some of the terms of your medical bills with hospitals or other healthcare providers. You can also try to work out a payment plan directly with your healthcare provider to avoid collection agencies. If your bill cannot be reduced, however, there are alternative methods to help manage your medical debt.

Often, if you can prove a hardship such as disability that prevents you from working, you may be eligible for medical debt forgiveness. You may also be able to find other resources like nonprofit organizations that can help with your medical bills.

If you don’t qualify for forgiveness and can’t work out an alternative, contact our team at Cibik & Cataldo. Our bankruptcy attorneys have years of experience in medical debt relief, and we can help discuss your options with a free consultation. 

Do creditors look at medical bills? 

In short, yes. Healthcare providers typically turn over unpaid medical bills to collection agencies, who then report to credit bureaus. This means that medical debt can hurt your credit score if it goes unpaid for long enough. 

Can I lose my house due to medical bills? 

Unfortunately, it is possible to lose your home due to unpaid medical bills. If your medical debt goes unpaid for too long, the healthcare provider may take your case to court. A judge may then put a lien on your assets, like your home, car, or other valuable possessions, or can rule for the seizure of those assets in order to pay off medical debts. Filing for bankruptcy as a result of medical debt can also lead to the liquidation of assets, including your home.  

How do I protect my assets from hospital bills? 

If you are facing medical debt and are worried about your assets, contact the team at Cibik & Cataldo, P.C. Our bankruptcy attorneys have handled numerous medical debt cases and can advise you on the best route out of debt.

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Cibik & Cataldo: Philadelphia Bankruptcy Lawyers