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Don’t underestimate the power of bankruptcy for medical debt

| Apr 7, 2015 | Medical Debt |

Many families do everything they can to shield themselves from debt. Smart spending, living within their means, buying all types of insurance, putting money into a savings account and paying credit card balances off every month are great ways to create a financial cushion.

The reality is that sometimes debt is completely unavoidable, like in cases involving necessary medical expenses. Bankruptcy can be a scary word for many people, especially those who always try to make smart financial decisions. When debt begins to mount, bankruptcy can actually be one of the most prudent financial choices of your life.

Medical debt may be the primary reason you cannot pay your mortgage, car loan or utility bills. It may be the reason that you have to put groceries and other daily necessities on a credit card with a high interest rate.

Bankruptcy is a process that stops debt in its track. It not only prevents debt from continuing to accrue, but it provides comprehensive relief based on your entire financial situation. It addresses all of the underlying issues that may have contributed to different debts. It wipes the slate clean, whether you qualify for bankruptcy under Chapter 7 or Chapter 13.

At Miller & Miller Law, LLC, in Milwaukee, we take the time to understand your financial goals, and then we build an effective plan to help you accomplish them and get out of debt. We not only help you manage and resolve your debt, but we do so while treating you with the respect you deserve.

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