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Bankruptcy often the only solution when unexpected medical bills arise Atlanta, GA

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Bankruptcy often the only solution when unexpected medical bills arise

As countless Georgia families continue to struggle under the weight of the slowly-recovering economy, many discover that by simply “tightening their belts” they can realize substantial cost savings. Unfortunately, one expense that many families find difficult to eliminate, if not impossible, is unexpected or emergency health care costs – after all, there are not many alternatives available when a family member’s health, or even life, is at stake.

Sadly however, the exorbitant costs of health care can often overwhelm the budgets of even the most cost-conscious individuals in Georgia. To make matters worse, according to the Georgia Budget and Policy Institute, almost 1.9 million Georgians under the age of 65 – which is more than 20 percent of the population – had no health insurance from 2010-2011. This means that many cash-strapped individuals may be stuck footing entire hospital bills when medical emergencies strike.

Consequently, it should come as no surprise that past studies have discovered that as many as 60 percent of bankruptcies can be attributed to, at least in part, insurmountable medical bills.

Difficulties paying medical bills

Medical bills can quickly become unmanageable due to several reasons. For instance, the struggling economy has led to the loss of several jobs in Georgia – which translates to more individuals losing their employer provided health insurance. This means they either pay monthly insurance premiums out of their own pockets, or gamble that they will not need medical care and forego insurance altogether. Financial problems arise when an unexpected illness or accident occurs and they become responsible for all of their medical bills.

Conversely, being employed and having health insurance doesn’t guarantee protection from medical bills. For instance, as health insurance premiums continue to rise, many are choosing to have higher deductibles so their monthly payments are lower. However, with high deductibles people can also get into financial difficulties when they need medical care because they cannot afford their out-of-pocket costs.

Bankruptcy may help with medical debt

A study conducted by the Center for Studying Health System Change revealed that one in five U.S. families were unable to pay their medical bills in 2010, and that this figure remained steady since 2007. Thankfully, bankruptcy may provide relief for many of these families attempting to deal with crushing medical debt.

For example, once a person files a bankruptcy petition, the court issues an automatic stay on all collection actions. This person will no longer have to deal with debt collector harassment or wage garnishments. Additionally, since medical bills are unsecured debts they can be discharged during a Chapter 7 bankruptcy – meaning they will be permanently wiped out.

Therefore, if you are currently facing uncontrollable medical debt and believe a Georgia bankruptcy may be able to help, it is often a good idea to contact an experienced bankruptcy attorney. A skilled bankruptcy attorney can outline what your options may be and assist with the filing process.

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Our Client Reviews

Gingold & Gingold LLC
5.0 / 5.0

Based on 28 reviews

Jack L.

They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

All C.

Mr. Gingold was recommended by an attorney I had worked with previously. I met with Ira Gingold to discuss credit issues. He went over each specific issue thoroughly. He advised me of the potential outcomes. He did all this in one meeting for a very reasonable price. When we finished I was confident in moving forward with a resolution. He definitely wants to help people take the appropriate course of action for their circumstance.

Karen B.

Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

Lyla B.

I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

Julie T.

Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

Sherard W.

I cannot say enough about this law firm. From the initial consultation to our discharge, the entire office kept me updated with every step of the entire process. I came to the Gingold after a bad experience with another law firm. Ira and Jamie immediately began treating me like family through this experience. In the end, they assisted with eliminating many debts including my 2nd mortgage. I cannot say enough about the experience and knowledge that Ira brought to the table from the office visits to the court time. Thank you very much for helping me through this tough time. Thank you.

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