The stress of debt(medical)

Ive been thinking about debt, medical and other debts and the stress of how to pay them if they are overwhelming and you have no job or source of income. 

I was hurt on the job and left with medical bills including an ambulance bill I havent received yet.

It causes a lot of stress as you can imagine and sleepless nights. I call this anxiety. 

I know many people in these circumstances who have these same issues and just as much anxiety. 

I also know people in these circumstances who dont, I envy these people but not as much as I used too. In my circumstances I have done much research to see how bad it could get and what I could do to reduce the worst outcomes. 

It turns out there is a lot.

I learned from Google, which isnt always right that it normally takes three to six years to sue a patient or use the court system to sieze your assets if any or income from a job.

Its actually easier to shield income from a job depending on what state state you live in and same with assets.

If assets are in Texas or Florida and they are ERISA assets (401k) or other pension assets those are best states but New Mexico and Iowa arent to bad either, but the law for ROTH assets are different in different states. Sometimes your very protected other times like in California not as much.

If you move to Florida to get the protection generally speaking it has to be two years before the creditor percues you in count.

All states have different laws on this so its worthwhile to learn where your state falls in all this.

Like I said Iowa and New Mexico arent to bad as far as what creditors can do legally. 

Research 

From the research ive done if you have income or assets there is much to be done to legally protect them.

Theres much you can do if your asset such as government pension is being paid now.

So your age can matter. Its difficult for creditors to size a government pension or the bank account its in. In many places you can have double the pension check in a bank account that cant be siezed, so as long as you keep saving below that amount your ok and creditors can't sieze it, if they do you can file court documents and get it back.

Its similiar with assets such as cars and land or houses but that depends on what state you live in.

With brokerage accounts of course its different. 

Some convert those assets before a fraudulent conveyance can ba claimed which in some states is six months to two years, so what many do is buy assets that are invisible and hide them. So they use delaying tricks to legally slow down the collection time and buy them more time to legally transfer the asset out of there legal name.

Obviously dont break any law, get legal advice and do these things before you have these bills that can bankrupt you. (Medical)

I now have an understanding why wealthy people persue these things and why people resent them for doing so.

It comes down to money and time, which wealthy people have planty of.

I am now learning that lesson late in life and its painful. 

As I learn these things I realize I have more options and less anxiety but also I learn if you talk about these things family and friends can resent you.

I realize many people prefer to be victims of circumstances, which I dont like myself and have come to realize I have to choose a path many dont like.

Thanks for reading.