| Filing Bankruptcy to cover medical bills |
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nemoryer
Full Member
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Location: wa
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| Filing Bankruptcy to cover medical bills |
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Hypothetically speaking, if someone owns a home that is paid off (although not valued very much) and has a retirement account but has overwhelming hospital bills that is tremendous burden to pay, can someone file for bankruptcy and still keep his home and retirement account?
If so, what chapter bankrtupcy will this fall under?
Thank you.
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Tue May 17, 2011 10:59 pm |
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littleroc02us
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I would sell the home, because IMO you have a moral obligation to pay your bill. Someone took the time to heal your pain and I don't think it's fair that you declare bankruptcy to avoid paying them back for the wonderful service they performed.
Risk comes from not knowing what you're doing. (Warren Buffet)
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Wed May 18, 2011 1:28 pm |
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sdfinch
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Location: Orlando,FL
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When or If you for bankruptcy, you will have to list all your tangable assets. Meaning anything you have paid off, own outright or anything of value that you can sell for repayment.
The attorney will esses your net worth to figure out a payback solution. You do not want a bankruptcy if all possiable. But I really do not know your situation also.
I hope that helps,
Scott
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Wed May 18, 2011 4:47 pm |
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