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Not my family. We filed for bankruptcy, so screw the whole medical industry. Honestly, it wasn't bad and within 18 months bought a new car, new house and star

• starik36 4y ago
  Doesn't the bankruptcy stick around on the credit report for 7 years?
  • egberts1 4y ago
    Yep but if you add a note for the reason of bankruptcy into your credit application, the credit provider would still take that into consideration and STILL charge you a higher interest rate. Depending on the absolved medical debt (being discharged by your bankruptcy), and its would-be crushing monthly payments, the higher interest rate of your new (mortgage/credit) credit lines and its monthly payments are often less than the impact by (then dissolved) medical payments therefore your living standard would still improve after such medical-related bankruptcy.
    • agubelu 4y ago
      As someone from the other side of the Atlantic, I've always been surprised at how much people in the US rely on debt and credit lines for their daily lives (besides very infrequent, very expensive purchases such as a house). I'm personally extremely wary of spending money I don't have.
    • zikduruqe 4y ago
      > STILL charge you a higher interest rate. My mortgage is 2.25% and the car we financed was 0%. The saddest part was with each creditor that asked about the bankruptcy and we explained it was due to medical debt, they would just say something like "oh no problem, get those all the time" or "bad things happened to good people", like it was no issue. It was like, having crushing medical debt is normal, for people.