You do not plan for bankruptcy. You might not even consider it. There can be a stigma to the term as many people may consider it a point of failure to file for bankruptcy when in the face of insurmountable medical debt. It can be disregarded as a tool to assist those who have run into dire straits with medical bills. 

Debt is like stacking papers. You receive bills and you pay them off with your income. Each single paper feels light and manageable. Ideally, you are in a situation where you can keep that stack low or non-existent. But according to a 2016 survey by the Kaiser Family Foundation and New York Times, 1 in 4 adults struggled to pay off a recent medical bill when asked. 

Struggling with medical bills is not necessarily bankruptcy-worthy, though. We can all work hard to make it through to the next hurdle. But in a situation where these struggles repeat? Where that paper stack gets too tall? It can become demoralizing and seem impossible that you might see that paper stack brought back to reasonable levels. Add in a medical emergency that insurance doesn’t cover, and you might feel desperate for any help. 

In these situations, bankruptcy can be your lifeline to a reprieve and may lay foundation to a brighter and more secure future. Your struggle against debt is not unique–but it is uniquely yours. It is in your best interest to know and utilize every tool at your disposal. If you are interested in learning more, we encourage you to explore our website and your options.