So I went to the Hospital back during Late October of last year and I was in a Ward for 6 days. Wanna know how much the bill was after being on my Parent's Health Insurance...?
$52 FUCKIN THOUSAND DOLLARS
Damn I didn't know staying alive had to be so expensive. Ever since then, I've kept shit to myself and have been fairly doing good. But to have to pay all of that off and knowing it's similar to College debt....WOW
It's not at all similar to college debt. You can bankrupt your way out of it. If you are young with negligible assets and limited earning potential this may be your best choice. to file for chapter 7 will be easy with limited income and assets. However you should first investigate if they will reduce payments or if you qualify for some financial assistance. There may be alternative routes than going BK.
If the hospital won't let you pay in monthly installments over many years they're likely to sue you and have a judgement against you which will accumulate heavy interest - in some US states it's well north of ten percent per year . So imagine having 5k roughly each year gone to that before even dinging the principal.
for older Americans it's tough to BK their way out of these medical debts because they have many assets accumulated but younger Americans can do it with less consequences. Yes it will stay on your file for about a decade but if you've noticed credit is handed out like candy , people even obtain auto loans shortly after BK.
I would consult someone IRL who is financially knowledgeable and who you trust
52k also seems high to me with insurance if you were just there on mental issues. You did not say what the visit was for which is probably for the best to protect privacy. Best wishes
