About Medical Bankruptcy

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For some people, getting sick means going bankrupt. Here’s the true story of a couple who experienced just that.

The husband, a man without much education, worked for minimum wage at a foundry sweeping floors. The wife worked before coming down with cancer. They could not afford the medical bills and were not on any social or welfare program, neither did they have insurance. As a result, the hospital started garnishing 25% of the husband’s salary.

Eventually, they could not sustain their expenses and filed for Chapter 7 bankruptcy that allowed for complete liquidation of whatever little assets they had to pay for their debts and cancellation of the rest.

Please see full article below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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