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Can My Medical Debt Be Paid Off With Bankruptcy?

Do not beat yourself up thinking of how to make ends meet in the midst of mounting medical bills. You are not alone. Personal bankruptcy is largely driven by unexpected causes, like medical debt. Monstrous medical bills are the biggest driver of personal bankruptcies in the US. In fact, an American Journal of Public Health study found 66.5% of all [...]

2019-07-23T07:33:36+00:00Bankruptcy|

Cramdown – Reducing Debt in a Chapter 13

Through Chapter 13 bankruptcy, a debtor’s obligations aren’t fully discharged. Rather, they are restructured to allow creditors to get some of the money they are owed. Meanwhile, debtors benefit from a more realistic payment schedule. A "cramdown" is one way to reduce payments in a Chapter 13 bankruptcy. The cramdown is a way to reduce the principal balance or interest [...]

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