medical debt

[oblivious]

from Wisconsin

Hello,

I recently had to go to the ER for a heart attack. Having no insurance thanks to the recession, I now have bills I can't pay.

I will most likely be paying this off the rest of my life. But if I can't make the payments they want, will the collectors go after my house, investments or life savings and clean me out?

I am hoping not to declare bankruptcy but if I must, will I lose everything?

I have put into the system my hole life and am now fifty something so I can't really start over.

Thank you, Rick.

 

[asiny]

I will most likely be paying this off the rest of my life. But if I can't make the payments they want, will the collectors go after my house, investments or life savings and clean me out?

They can. But if you come to a financial arrangement - within reason (not $1 per month) - they are usually more than willing to work with you.

I am hoping not to declare bankruptcy but if I must, will I lose everything?

Do what everyone, sadly, is doing - tighten the bootstraps, find ways to save money and keep afloat until the storms recede.

If everything seems daunting... think of this, what you have worked for is material. You are alive. Able to see your family and friends everyday.

 

[bigun]

Wi. has some pretty generous bk exemptions.

http://www.thebankruptcysite.org/exemptions/wisconsin.htm

Most bk lawyers will give free or lowcost initial consultations. Speak with a few and get all of your options explained.
As a Wi. resident you also have access to "Chapter 128".
Wisconsin Lawyer May 2008: Chapter 128: Wisconsin's Bankruptcy Alternative | State Bar of Wisconsin

You can use this to protect all of your property. It does not keep you from being sued but, they can't collect on the judgment as long as you are under the 128 plan.

On filing of a section 128.21 action with the court, listed creditors automatically are prohibited from attempting or continuing to attach the debtor's property, garnish his or her wages, or otherwise collect on their debts.10 One express exception to this prohibition is that a creditor may litigate and obtain a judgment against the debtor.11 Once a judgment is obtained, however, the creditor may not proceed to collect on it or try to negotiate a settlement directly with the debtor; doing so violates the court order and the automatic stay. The creditor can and should report the judgment amount to the assigned trustee. The trustee then will adjust the amount of the debt listed by the debtor,12 and the judgment amount will be paid out through the trustee's office.13 All of the debtor's property is exempt from attachment, and any statute of limitation pertaining to listed debts is tolled during the pendency of the chapter 128.21 proceedings.14

 

[lealea1005]

from Wisconsin

Hello,

I recently had to go to the ER for a heart attack. Having no insurance thanks to the recession, I now have bills I can't pay.

I will most likely be paying this off the rest of my life. But if I can't make the payments they want, will the collectors go after my house, investments or life savings and clean me out?

I am hoping not to declare bankruptcy but if I must, will I lose everything?

I have put into the system my hole life and am now fifty something so I can't really start over.

Thank you, Rick.

You can speak with the patient advocate of the hospital and the treating Physician. Explain your situation and ask whether they would be willing to accept the lower amount they would have been paid if you had insurance. Use the payment from your last insurance plan as an example. Then set up a reasonable payment plan. It's worth a shot. Good luck.

 

[StephenH]

You might also see if you qualify for any low income programs or uninsured programs the hospital may have such as reduced cost care, charity care, or if they offer payment plans in this case. If your income is very very low and your assets are low enough, you might try applying for medicaid.