• FRS Law Group

    (Flinn, Ruble & Salazar)

    Elgin IL: 224-276-6641
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    (Flinn, Ruble & Salazar)

    Sycamore IL: 630-202-1559
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    McHenry IL: 815-889-2364
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    Rockford IL: 779-203-9049
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    Palatine IL: 847-452-5124
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Chapter 7 bankruptcy: an option to overcome extreme medical bills

Your professional career has begun. You have few worries. Relying on contract work in this gig economy has been surprisingly steady and well-paying for you. Although you are not a full-time employee receiving no health care benefits, you reason that your health is fine, and things are really looking up.

Then a major malady unexpectedly strikes, and you undergo life-threatening surgery. It proves successful, and now you prepare for weeks of rehabilitation. While health care professionals saved your life, it has come at a great financial cost. On top of that, you had limited or no health care insurance, footing you with a six-figure bill that you cannot pay. What are your options? Unless you have access to relatives with deep pockets or initiate a generous crowdsourcing campaign, Chapter 7 bankruptcy is a logical choice.

A medical crisis surfaces unexpectedly

Bankruptcy never was a four-letter word, nor should it be taken in that context. Bankruptcy provides a resolution for people who are experiencing a major financial crisis. This legal concept lets you eliminate or reduce debt in order for you to carry on with your life. A medical crisis is a reason to consider Chapter 7 bankruptcy.

Here are some reasons why Chapter 7 bankruptcy may be the best solution:

  • You have few assets. As a young professional, you still have years to accumulate wealth. Since it is early in your career, you likely do not have much. When you add overwhelming medical expenses to this equation, bankruptcy is a realistic solution.
  • Problem debt is out of hand. Debt such as medical bills, credit card debt and personal loans can be forgiven through Chapter 7.
  • When you realize that paying off the debt may take more than five years even if you take drastic measures. This scenario is likely with exorbitant medical bills.

We know that health care expenses can take their toll on anyone and any family. Even people who have insurance feel the financial pinch from medical costs. That is what can happen whenever you spend a few weeks in the hospital. Bankruptcy can help you look forward.

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Donahue &
Walsh, P.C.





Granger &

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