http://shulayim.com/archives/banking/bankruptcy-know-what-you-should-not-fear/index.html Discovering Business Tips and Finance Advices Updated Daily Mon, 23 Apr 2012 22:00:10 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://shulayim.com/archives/banking/bankruptcy-know-what-you-should-not-fear/index.html/comment-page-1#comment-1003 file bankruptcy yourself Fri, 27 May 2011 04:02:42 +0000 http://shulayim.com/?p=88#comment-1003 I had no choice but to file for bankruptcy protection. I had racked up over $200K in medical bills that I simply cannot pay for. Even if I was able to negotiate with the medical providers for a reduced amount, we are still talking about medical expenses of well over $100K. I do not have any emergency savings that can cover the medical bills and with current work's salary, I can only pay back about $250/month. A simple calculation will tell you that it will take over 33 years to pay back the entire $100K. So the only logical thing to do at the time was to seek personal bankruptcy protection. Even though I hate to stiff the doctors for the money I had incurred over the years, but for my own financial well-being, this is the best thing that I can do for myself. I had no choice but to file for bankruptcy protection. I had racked up over $200K in medical bills that I simply cannot pay for. Even if I was able to negotiate with the medical providers for a reduced amount, we are still talking about medical expenses of well over $100K. I do not have any emergency savings that can cover the medical bills and with current work’s salary, I can only pay back about $250/month. A simple calculation will tell you that it will take over 33 years to pay back the entire $100K. So the only logical thing to do at the time was to seek personal bankruptcy protection. Even though I hate to stiff the doctors for the money I had incurred over the years, but for my own financial well-being, this is the best thing that I can do for myself.

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