Medical Debt

Nothing in this life is more important than your health.

Unfortunately, medical treatments often result in serious financial repercussions for the patient.

Therefore, if you’re about to undergo surgery or a rehab process, you must be prepared to deal with medical debt.

Whether it’s pre-treatment planning or post-treatment financial management, BankruptcyCanada can help put your finances back on track, allowing you to focus on regaining full health.

Need Help Reviewing Your Financial Situation?
Contact a Licensed Trustee for a Free Debt Relief Evaluation

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Why Is Medical Debt So Problematic?

All debt can be bad, but medical debt is perhaps the worst of all.

The impacts are immediate, and can potentially last a lifetime depending on the size of the medical bill involved.

Some of the other telling factors to consider include, but are not limited to:


  • Medical conditions often surface unexpectedly, landing you with a major medical bill. Moreover, many treatments aren’t covered by Universal Care and medical insurance. Even those that have taken precautions can fall victim to medical debt.
  • When undergoing a medical treatment, it’s not only the medical bill that can impact your finances. The rehabilitation process will result in an enforced career break that significantly reduces income levels too.
  • Medical debt can cause stress and mental health problems that hinder your physical recovery and may require additional medical support. This can extend the duration of reduced earnings and increase the total of your medical bills.


The harsh reality is that medical debt stands alongside divorce, unexpected emergencies, and job loss as one of the most common causes of bankruptcy and insolvency in Canada.

Thousands of Canadians will experience this problem this year, through no fault of their own while parents may fall into debt due to child medical bills too.

While you cannot avoid the medical costs, you can at least keep your finances in better health.

Managing Medical Debt

The average Canadian family spends close to $15,000 on medical bills every year.

So, it’s easy to see how a major health scare could put your finances at risk.

Therefore, it’s imperative that you take a proactive approach to limit the financial damage and ensure you have the best shot at keeping your finances and body in great health.

Professional credit counseling services and debt management can help you build a comprehensive strategy that highlights immediate and long-term goals.

The process may include a range of tactics, such as:


  • Analyzing your spending habits to identify temporary and permanent measures that may be taken counterbalance the impact of your medical bills.
  • Reaching out to creditors with new repayment plans, including consumer proposals or debt management plans, to extend repayment terms and reduce interest payments.
  • Considering other financial planning tips that can either raise funds or reduce the outgoing to promote cash flow and general financial health.


Regardless of what stage of the medical process you’re currently at, it’s never too late or early to seek professional advice.

BankruptcyCanada has helped over 100,000 Canadians with their financial struggles, including thousands that have been hit by medical debt.

To regain control of your financial situation, call (877) 879-4770 today.

Information on Consumer Proposals

Consumer Proposals in Canada – An Alternative to Bankruptcy
What is a Consumer Proposal?
How to Amend a Consumer Proposal
What are the Benefits of a Consumer Proposal?
What are the Steps in a Proposal?
Consumer Proposal Eligibility
What Debts Are Erased in a Consumer Proposal?
Is There Life After a Proposal?

Canadian Bankruptcies

How to File for Bankruptcy
What is Bankruptcy?
Bankruptcy FAQs
How Does Bankruptcy Work?
What is the Cost of Bankruptcy in Canada?
How to Rebuild Credit Following Bankruptcy
Personal Bankruptcy in Canada
What Debts are Erased in Bankruptcy?

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