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In previous centuries, age 62 was OLD. It is not old now, for those in good health...
Only an aside, but, statistically speaking, the average life span age is going up - but in the 20th/21st centuries, that is primarily a result of infant mortality and workplaces accidents going down, NOT because people live any longer.
Take a look at this table, and look down the column labeled "60" - if you made it to this age, the number in the column represents the number of years you could expect to live past that age.
For males:
In 1850 it was 15.6 years
In 1900 it was 14.35
In 1950 it was 15.76
In 2000 it was 20.0
less than 5 years difference from 1850 to 2000.
now look at the column labeled "10" (ie: at 10 years of age you can expect to live another X years)
1850 - 48 (average age at death 58)
1900 - 51 (average age at death 61)
1950 - 59 (average age at death 69)
2000 - 65 (average age at death 75)
there is the difference and the stat responsible for the rising AVERAGE age of Americans. You are more likely to make it to 60 in the first place now, so a higher percentage of people are living past that age, which skews the average age up.
If you look at the bank bailouts that has been fully recover with some interest alreadsy and many smaller banks still owe o loans.The real cost have been to bailoutt eh auto unions.it has already cpost many investors their rights to recover under bankrupsy laws.The US taxpayer was given stock that no one i the privte market would buy.Then o cousre there is the bailout of techer union ;the largest part of any in the stimulus. We are talking gifts here not loans ;so none will be recocered by taxpayers who woe the bill with interest.
Location: Prescott Valley,az summer/east valley Az winter
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As posted earlier they guy wants to pay a 500,000 bill in installments~ ok, if he divides that over a 10 year period and pays an interest % about what credit cards are , I would expect his payments would be somewhere in the range of 8 or 9 thousand dollars a month~ and my guess he's trying to offer a couple hundred~which won't even cover the interest~ thats when the courts and the addition of court costs to his bill come into play! Better he pays for it
Once again, you've gone from the general to the specific. This goes back to my very first post on this thread wherein I stated that each state has it's own laws when it comes to what assets a debtor in bankruptcy can keep. You then weighed in with a "Homestead Act" that protects everyone's personal residences or assets. And as you've now come to realize, that is simply not true.
There was a famous example of the differences in state's laws several years ago (I don't remember exactly when) when former baseball commissioner Bowie Kuhn, who had been a long-time NJ resident, moved to Florida and bought a huge estate just prior to filing for bankruptcy because Florida allows its residents to keep their house regardless of value (unlimited homestead exemption) and much more in assets than NJ does.
To try to answer some questions. In general - a creditor cannot get financial information from a debtor before getting a judgment in court. But once there's a judgment - the creditor is entitled to all information. In many states - including mine - the creditor can get access to financial records and certain court relief if he thinks the debtor is "running off" with his money before a judgment.
Homesteads generally apply to residences - not bank accounts. But different states have different laws protecting certain assets from collection after a judgment (for example - the tools of one's trade are protected here up to a certain dollar amount).
A creditor and debtor are always free to enter into a voluntary agreement to repay a debt on a schedule. But there is usually no statutory requirement that the creditor enter into negotiations with the debtor. There are some new laws to the contrary dealing with mortgages - but nothing dealing with medical bills. OTOH - many states now have rules of court procedure that require an attempt at mediation/settlement before any civil case goes to trial.
FWIW - Commissioner Kuhn lived in my HOA association. Nice house - a little pricey. But not a huge expensive estate like you'd find in a place like the Hamptons. Robyn
The inability to pay hospital bills and/or other health care expenses is one of the leading causes of bankruptcy filings in the country.)
I was in this position when I was out of work. Although I did negotiate with my medical providers, I reached the point where I could not even pay a small amount on a schedule. I understand bills must be paid whether they are medical or anything else. So I had no choice but to declare bankruptcy. My attorney told me the inability to pay medical bills was the number one reason for bankruptcy as you stated.
I was in this position when I was out of work. Although I did negotiate with my medical providers, I reached the point where I could not even pay a small amount on a schedule. I understand bills must be paid whether they are medical or anything else. So I had no choice but to declare bankruptcy. My attorney told me the inability to pay medical bills was the number one reason for bankruptcy as you stated.
Did the bankruptcy due to unexpected medical expenses change your views of a national healthcare system for all Americans.?
Did the bankruptcy due to unexpected medical expenses change your views of a national healthcare system for all Americans.?
Good question. The answer is "no" because I have been for a national healthcare plan for many, many years. This was the result of being a medical claims adjustor for employer provided group health insurance plans and seeing how people were struggling just to be able to pay their co-pays.
Also since I had worked with a large variety of insurance policies, I really was able to see the difference in various policies. The discrepancies in coverage was staggering. I never thought it fair that just because one person worked for a large coporation or belonged to some Unions that they should have better coverage than the the person who worked in a small business or did not have a good Union to provide coverage.
And then there were those who through no fault of their own were not employed who had no coverage and therefore no access to medical care at all. While I did not see these people on my job I knew they were out there and I at one time became one of them.
And yes, I saw wages being garnished and homes being lost by people who were having a difficult time not necessarily because they weren't insured but also because they were underinsured.
Were is the tax coming from to pay for national healthcar, the U.S is bankrupt.
Like all the other countries with universal health care its going to come from your taxes,
As for the US being bankrupt"? you sure are quick to toss in the towel,
The force is weak in this one Obie Wan
Some hospitals have debt relief programs based on verifiable income. Have "J" that route first. He should ask the hospital for a debt mediator to arrange an affordable monthly payment. Although this may not yield any help, he should start there and be persistent, with all his paperwork on income in hand.
If he is truly low income, something might be able to be worked out. But be aware what the "poverty level" is for an individual (earned income + investments?? I do not know if "poverty level" only means total earned income from SS & work, or if it takes into acct savings and investments). If he has half a mil in the bank or in investments, the earned interest is part of his income on top of his SS, so altogether that annual amt may push him up over the pverty level. Some social service programs, I read, allow a certain % over the poverty level. He has to see if he legitimately qualifies.
Then he should look into Declaration of Homestead in his state, to protect the house (but any debt incurred before signing on is not covered, I believe).
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