Bill wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
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“Dear Steve,
We have over $35,000 in medical bills and our income will not let us get ahead on the bills. I am disabled due to an injury. I am on disability and my wife works.
Over two thirds of the bills are on our credit cards as we had no other way at the time to get the service.
Our insurance paid a great deal of the debt, but left us oweing this hugh amount.
Is there any source out there that can help us?
Bill”
The Answer:
Dear Bill,
Since you are on disability your income is probably fairly limited. Even though your wife is working, if you could afford to, you’d certainly pay more towards the bills. It just sounds like the bills are getting to be too much to handle.
Not sure what “the service” is that you are referring to but bankruptcy is a probably an end game in your situation. My worry is if you’ve been making ends meet by supplementing your income by using the credit cards. If that’s the case then if you go bankrupt, and discharge your debt, it will still be difficult to live within your income.
If you and your wife can make it from month-to-month on your disability and her income then bankruptcy is worth investigating. Click here to schedule a free bankruptcy consultation with a local bankruptcy attorney. Get the facts.
The last thing to watch out for is if you are still incurring medical bills. If you go bankrupt now and new bills come streaming in you’ll just be right back in debt again. When you have a confidential discussion with a local bankruptcy attorney, be sure to let them know what your medical condition is and the likelihood of getting some big medical bills in the near future.
