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Why are there so many foreclosures? Couldn't everyone file bankruptcy TO PROTECT THE HOME, because they did not have money to pay their mortgage?
Bankruptcy now has a means test for total debt. Ironically, many of the individuals who file bankruptcy to protect their home, because they cant pay the mortgage, might only qualify because of medical bills.
Remove the medical bills and bankruptcies will indeed decrease, but foreclosures will increase because those who "cant work" because of an illness, wont qualify for the new bankruptcy debt/income ratios..
The fact that they used bankruptcy to protect their home, WILL NOT CHANGE
The fact is major reason for bankruptcy in USA is medical bill.
Quote:
Originally Posted by pghquest
Currently
Individual gets sick, gets a $350,000 medical bill, doesnt pay their mortgage, files bankruptcy
The fact is: why so many people in this country with median household income of 48,000 receive such a bonus medical bill? Isn't this high cost efficiency health care system strange enough? Why is this system so above the roof?
The fact is major reason for bankruptcy in USA is medical bill.
WRONG AGAIN, the fact is major reasons for bankruptcies in america is individuals who get sick dont have money saved to pay their other bills, like mortgages, confirmed by the links being posted..
Quote:
Originally Posted by mikemeatball
The fact is: why so many people in this country with median household income of 48,000 receive such a bonus medical bill? Is this high cost health care system strange enough? Why is this system so above the roof?
Maybe you should be greatful these individuals received $350,000 worth of care even though the hospital knew they had no way of paying for it..
He doesn't care. They should've planned not to get seriously ill.
Quote:
Originally Posted by jojajn
Many are mortgaging their home to pay for their medical bills. See above post #64.
Many are fools.. I mean if your stupid enough to mortgage your home to pay medical bills, you are no different than those who did to buy a new porsche, or vacation homes without means to pay for it.
I saw Mall clinic available now on TV news. Huge market, I guess.
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