Medical bills and recent inheritance
My father has about 500,000 in unpaid medical expenses after a massive stroke (he was uninsured at the time.) He receives SSDI which covers his monthly expenses (my understanding is that this benefit is except from medical collections/liens?)
He recently inherited about $30,000 in life insurance following the death of his mother. If he deposits this money in his checking account (which, incidentally, also has my name on it as his representative payee as I help him with his finances following his stroke) can it be collected by his creditors to pay off his medical bills? We are trying to protect his money for his future, his care, etc.
Reply from DebtCollectionAnswers.com:
Brooke - Your father really needs to see an attorney. Creditors may be able to go after that inheritance and he really needs to find out whether there is a way for him to protect it. We recommend he talk with a
bankruptcy attorney to find out what his options are for dealing with the medical debt and protecting as much as possible of that inheritance.
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