Books

  • Jeff Michael: Repair Your Credit and Knock Out Your Debt

    Jeff Michael: Repair Your Credit and Knock Out Your Debt
    I highly recommend this book because I wrote it.

  • Edie Milligan: Tips from the Top: Targeted Advice from America's Top Money Minds

    Edie Milligan: Tips from the Top: Targeted Advice from America's Top Money Minds
    I have about a dozen entries in this book.


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Comments

I'd be more impressed if we knew how much credit card debt in bankruptcy came about because of medical bills. I suspect it's more than a little, but by the time it gets to bankuptcy court it just looks like any other credit card debt. I may be wrong, but I don't think Liz Warren and the gang ever looked that deep.

My advice to anyone facing huge unpaid medical bills, especially if they earn below median income for their state and family size (where they would go to automatic Chapter 7 if necessary), would be to close every single credit card account and credit line they have (so the collection agencies can't use the existence of available credit as leverage) and negotiate a workout directly with the provider

I think a misplaced sense of honor causes a lot of people to charge the medical bills (or part of them) figuring they'll pay it off "somehow," but all it does is start a downward spiral that can't be recovered from.

With no other credit to be tapped, if you have to file for bankruptcy because of the medical bills, so be it. You walk away. People with uninsured medical bills aren't responsible for the screwed-up patchwork coverage setup in this country. Yes I realize everyone else absorbs it, but the answer is to fix the system, and there are any number of good ideas out there for that not involving adopting the mess Canada created.

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