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Advice wanted: BK due to medical debt

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    Advice wanted: BK due to medical debt

    Hi everyone, was hoping if you all could chime in with some advice,

    I was recently admitted to the emergency room, uninsured. Good thing is, I'm alright. Bad thing is, I have a $120,000 bill.

    I do not have the money, so my plan is this:

    a.) Negotiate with the hospital. I've done this and the best I could do is 20% off. I still dont have that kind of money.
    b.) Apply for financial aid through the hospital - in the process, we will see what happens.
    c.) Wait for it to go into 3rd party collections and then negotiate from there.
    d.) Chapter 7 BK (last resort)


    Relevant facts: I make under the median household income in WI ($104k/year). I do have about $100k in equity in my house, but am under the impression that its exempt if me and my wife file together. I have no other significant items of value (or debt for that matter).

    Fwiw, this would be my second time filing chapter 7. I last did it in early 2014. Ugh.

    This is a really crappy situation, anyone see any problems with my plan or have advice?


    #2
    The most obvious fly in the ointment I see is you cannot refile for a Chapter 7 until 8 years have elapsed since your previous Chapter 7 filing date.
    Latent car nut.

    Comment


      #3
      Yes, I filed in March of 2014. This medical stuff just happened in the last couple weeks, so if all other options are exhausted, I'd be filling chap 7 in early 2022.

      Comment

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