24 years old, Should I file bankruptcy?
I am 24 years old and I have about $30k in debt. I do not have any credit cards cause I have so many doctors bills in collection I can not get approved for anything. Would it benefit me to file for bankruptcy and start fresh?
4 attorney answers
If you have not finished treatment then you should hold off since medical bills go from 0 - $60,000 in about one week. Depending on your income and assets, you may qualify for help from the hospital or other charities that help people pay or reduce medical bills.
Your age has nothing to do with whether or not you should file bankruptcy. Can you pay your debts? If so, bankruptcy isn't appropriate. Can you pay some of your debt over 3 - 5 years? If so, the Chapter 13 program may allow you to pay what you can afford. More info is at the link below. Hope this perspective helps!
Yes, depending on your income and other criteria it sounds like a Chapter 7 bankruptcy may be a good idea. Sit down with a bankruptcy attorney in your area, they can take a look at your assets vs. liabilities to make sure you are protected going forward.
Although I'd need to know more about your finances (income, assets, etc), getting rid of 30K in medical bills could be a very strong reason to file Chapter 7. You certainly may be a candidate and your first step is to sit down with a lawyer and look over all the numbers and details.
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