According to the Chicago Tribune, Rep. Jesse Jackson Jr. has put his Washington D.C. home on the market last month to try to pay off medical bills linked to his battle with bipolar disorder.
The Tribune reports that Jackson has been on a three-month leave of absence from Congress while battling the disorder. From the Tribune:
[Jackson’s] D.C. town house went on the market Sept. 8 with an asking price of $2.5 million. A real estate listing posted on the Metropolitan Regional Information Systems says the home was built in 1921 and has four bedrooms, three full baths, two half baths, five fireplaces, a gourmet kitchen, a sunroom and a rooftop deck with a Jacuzzi.
Jackson’s aides said in a statement, “Like millions of Americans, Congressman Jackson and Mrs. Jackson are grappling with soaring health care costs and are selling their residence to help defray costs of their obligations.”
If Jackson wanted to discharge his medical bills, he could potentially file for Chapter 13 or Chapter 7 bankruptcy, which allows you to discharge health care debts.
Bankruptcy has helped millions of Americans who have struggled with paying medical bills. A study by the American Journal of Medicine found that 62 percent of all bankruptcies filed in 2007 were linked to medical expenses, an increase of 20 percent from 2001. According to the Journal, nearly 80 percent of the people who filed for bankruptcy also had health insurance.
Jackson’s situation is a reminder of how medical expenses can cripple anyone financially. If your financial situation is a problem, contact our Washington DC and Maryland bankruptcy lawyer now for a free consultation.
