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Medical bills can lead to harassment, put an end to them

Medical bills can be quite costly and can lead to very serious financial issues. Even if you have wonderful insurance, some items that aren't covered might lead to troubles. If you are in this position, there is only so much else you can cut back on so that you can pay the medical bills. Once you have cut things down and don't have anything left that will help you to save money, you might have to look at other options.

Because medical bills are unsecured, there isn't too much that the doctor's office or hospital can do to you if you can't pay them. They can send them to a collection agency and record the late payments on your credit report. In some cases, they might refuse to treat you until you pay the balance or make payment arrangements. While it might seem like you don't really need to do anything about the bills, you may soon come to realize that the collection calls are wearing you out.

Know the pros and cons of your options, including bankruptcy

Realizing that you have more debt than you can handle is a frightening event. There are two things that you can do. One of these is that you can ignore it and hope that it all goes away. The second is that you can work to have the debts taken care of. If you choose the more responsible option, trying to take care of the debt, you might choose to look into the option of filing for bankruptcy.

Individuals who are going to file for bankruptcy typically have two options - Chapter 7 or Chapter 13. The primary difference is that Chapter 13 requires you to make repayments to the court. Chapter 7 doesn't require you to make regular payments to the court. When you file a Chapter 7 bankruptcy, you have to meet a means test. This is based on your income to determine if you make more or less than the state's household mean income amount for a family of your size. If you are over the median you can still file bankruptcy, but it will be a Chapter 13.  This does not mean you are paying your creditors in full, but you will pay something.

Be prepared to hurry up and wait when you file for disability

For most people who file for Social Security Disability (SSD) benefits, the application process is lengthy and sometimes maddening. When you are dealing with a painful condition or a chronic illness, the last thing you want to do is fight the battle of the disability benefits process. We are here to help you with this legal fight so you can concentrate on your health.

Some individuals think that they can get these benefits quickly, but this usually isn't the case unless your condition is listed on the Compassionate Allowances list. Because of this, you must prepare for the wait. It can be difficult to do this, especially if your health issue crept up on you without warning.

Questions to ask yourself before filing for bankruptcy

Many people throughout Illinois are no strangers to the complexities of bankruptcy. In fact, the state as a whole has struggled financially in recent years, and there have been rumors the state could be the first in the nation to file for bankruptcy, following in the footsteps of Detroit in nearby Michigan. 

Filing for bankruptcy is a big decision for any individual. However, it can be an immense help when a person becomes so inundated with debt there is no other way out. Before pursuing bankruptcy in earnest, it is paramount for people to ask themselves some questions first. If you answer "Yes" to any of the following questions, then it may be time to start looking into bankruptcy is the only viable option to get your finances back in order. 

Crohn's disease might qualify for Supplemental Security Income

Imagine what you would do if your child doubled over in pain each time they ate. They might get diarrhea after eating, and they might be losing weight. You finally get a doctor to listen to you and eventually find out that your child has an inflammatory bowel disease (IBD), such as Crohn's. You may soon come to realize that treating this condition is very costly. You may have to pay out-of-pocket for some vital nutritional supplements that aren't covered by insurance. You might have to miss work for the frequent medical appointments. All of this can wreck your finances.

Some parents might turn to the Social Security Administration (SSA) for Supplemental Security Income (SSI) benefits. This is a needs-based program that might provide a small bit of financial relief for these parents. Inflammatory bowel diseases have their own listing, which means there are specific criteria that must be met in order for a child to qualify.

Be prepared to hurry up and wait when you file for disability

For most people who file for Social Security Disability (SSD) benefits, the application process is lengthy and sometimes maddening. When you are dealing with a painful condition or a chronic illness, the last thing you want to do is fight the battle of the disability benefits process. We are here to help you with this legal fight so you can concentrate on your health.

Some individuals think that they can get these benefits quickly, but this usually isn't the case unless your condition is listed on the Compassionate Allowances list. Because of this, you must prepare for the wait. It can be difficult to do this, especially if your health issue crept up on you without warning.

Successful bankruptcy may improve the economy

Some people don't want to file for bankruptcy because they see it as a failure. They think that they are shirking their duty to pay off the debts they owe and that it will have a negative impact on the economy. This isn't the case.

For some filers, the need to file becomes evident when they can't keep up with their bills. This might not even be due to their own fault. Medical emergencies and chronic conditions can lead to a lack of income and an influx of medical bills.

Financial support for injured workers who can't go back to work

Many people who are facing a serious injury count down the days until they can get back to work. Unfortunately, some of these individuals won't ever be able to return. They might have to turn to Social Security Disability (SSD) benefits to pay for life's basic necessities. We know that this might not be how you envisioned your life, but we are here to help you get what you need to live your best life.

One thing that people don't understand about SSD is that the application process isn't quick. Instead, you will likely have to wait a considerable amount of time before you are going to get benefits. There are some exceptions to the time limits, but they aren't all that common. Typically, these have to do with conditions that are so severe that it is automatically assumed that you will be unable to work.

The cost of bankruptcy

A recent report by a commssion studying bankrutpcy laws found that the cost of bankruptcy is a problem for many individuals.  The current law provides that bankruptcy fees must be paid before filing.  This makes it difficult for some debtors to come up with the money to file.  A particular debt that haunts some people who file for bankruptcy is student loan debt. The problem with this type of debt is that unless you can show that you have remarkable financial hardship, you will still have to repay this debt.  The commission found that the bankruptcy laws on student debt should also be changed.

Find financial freedom through bankruptcy

When you are laid off from work, suffer a serious medical issue or have another life catastrophe, your finances might suffer. Bills that were once routinely paid might be impossible to afford now. You may have to choose between paying a bill or buying groceries for dinner. This isn't a good place for anyone to be in, so it is imperative that you take steps to shore up your finances so you don't suffer a lifetime of problems because of your current money situation.

One option that you have is to file for bankruptcy. This could be the answer to the financial troubles and would provide you with a fresh fiscal start. While many people think that bankruptcy is an easy way out, the reality is the exact opposite. You have to go through financial education options and plan for what life will be like on a very tight budget after you file your petition.