Seven million elderly Americans are struggling with paying their medical bills and accrued medical debt over time. Even with Medicare and Medicaid, 12% of American adults, 65 and older, have issues paying for health-related costs. This brings up the question, can bankruptcy be an option for our injured senior nation? Luckily, Attorney Ron Drescher joins the show. Ron Drescher is the owner and operator of Drescher & Associates, a law firm in Pikesville, Maryland, focusing on bankruptcy and creditors’ rights. Tune in as Ron talks about why seniors may want to consider filing for bankruptcy, the different types of bankruptcies, and the three significant alternatives for bankruptcy.

In This Episode:

  • [04:20] Should the injured senior nation consider bankruptcy when they’re faced with mounting medical bill debt? 
  • [06:40] If I file bankruptcy, can I lose my house?  
  • [11:20] The difference between chapter seven and chapter eleven bankruptcies. 
  • [16:50] If a collection agency is harassing you, then tell them to talk to your attorney. 
  • [20:55] Ron reveals the three major alternatives for bankruptcy.  

Key Takeaways:

  • If you are faced with mounting medical bill debt, you should absolutely consider bankruptcy. 
  • Any person that says they should not consider bankruptcy does not understand the process and the bankruptcy system. 
  • You need to find an attorney before you file bankruptcy; that way, you can maximize the assets you are allowed to keep.
  • Direct all communications with collection agencies to your attorney’s office.
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Meet Attorney Ronald Drescher

Ronald Drescher is the owner and operator of Drescher & Associates, a law firm in Pikesville, Maryland focusing on bankruptcy and creditors’ rights. He is licensed in Maryland, Delaware, Pennsylvania, Virginia, and the federal courts of the District of Columbia.

Resources:

Website: http://www.drescherlaw.com
Facebook: https://www.facebook.com/MarylandBankruptcyLawyer
Twitter: https://twitter.com/rondrescher
LinkedIn: https://www.linkedin.com/in/mdbankruptcylawyer/



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