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October 2014 Archives

Bankruptcy and debt for some U.S. cancer patients

Residents of New Hampshire might be interested in how many Americans are facing sky-high medical bills on top of having cancer. Money problems are plaguing a third of U.S. cancer survivors, according to two new reports. Numerous cancer patients have reported having to alter their medical care and lifestyles because of the high cost of their cancer treatment. A meeting of the American Society of Clinical Oncology was held in Boston on Oct. 21, and these findings were introduced at that time.

Many requirements exist for Chapter 11 filing

Much like in other states, bankruptcy in New Hampshire means that the person or business making the filing has accumulated an overwhelming number of debts that cannot be matched by assets. There are different types of bankruptcy filings, however, and Chapter 11 bankruptcy has a specific set of instructions for filing.

Is credit counseling required before filing for bankruptcy?

Individuals in New Hampshire who are considering bankruptcy must take a credit counseling course within 180 days prior to filing. The course must be taken through a credit counseling organization that is approved by the Department of Justice's U.S. Trustee Program. During this course, a counselor will go over the debtor's finances, discuss alternatives to bankruptcy and develop a personalized financial plan.

Handling medical bills more effectively

Medical bills can leave New Hampshire families struggling emotionally and financially, but there are effective ways to handle the expenses and bring the stress level down slightly. Proactive management is necessary to address the medical debt and prevent it from becoming a greater burden. When it comes to medical bills, consumers often wind up dealing with doctors, hospitals, treatment centers, health insurance companies and collection agencies. This is why it is so important for people to know what steps to take when they start accumulating high medical bills.

Circumstances drive choice between bankruptcy chapters

In general, there are two options open to individuals filing bankruptcy in New Hampshire. Chapter 7 is also known as straight liquidation bankruptcy because the debtor's nonexempt assets are liquidated, and the proceeds are used to pay off debts. Chapter 13 bankruptcy involves the establishment of a payment plan and is open to debtors who have regular income.

Start Your Case Today

Whether you have a family law issue, an estate planning question or are considering bankruptcy, I can help you find a sustainable solution that provides relief and hope. Schedule your consultation at my Nashua, New Hampshire office today by calling 603-635-4149 or by sending us an email.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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