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Medical Bankruptcy: 4 Things You Need to Know

When it comes to consumer debt, many people believe it is caused by excessive shopping or poor financial habits. However, did you know that medical debt is currently one of the leading causes of financial ruin? According to the Kaiser Family Foundation (KFF), over 25% of Americans find it challenging to pay their medical bills. Shockingly, a KFF study revealed that 9% of Americans had filed for bankruptcy due to medical bills.

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What Is Considered Income For the Bankruptcy Means Test?

Trying to figure out if you can meet all the requirements for a bankruptcy discharge can be a challenge, especially if you don’t know where to start. The Bankruptcy Means Test form was created to help you navigate through to see if you qualify to file for bankruptcy discharge. The means test will look at your income to determine if you can qualify.

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