Quote:
Originally Posted by funnygirl
Where did you get the statistical info. that the majority of bankruptcies filed are the result of medical bills? That is just one cause. Be careful about stating something that is an opinion as a fact. It really sheds doubt on your credibility.
|
Obviously, people file for bankruptcy because they can no longer pay their bills. Most common reason that they can't pay their bills is because of job loss.Because most of these homes needed two incomes to pay all their bills, just one income of the two is all it would take to default on payments. I have talked to many real estate people and they say the majority of young people bit off more then they can chew.
How does medical bills fit into the equation? If you take a poll on the reason older people lose their homes....medical bills naturally will go up a few notches. But most older working people are entrenched into their jobs and have reached a point where money and benefits are probably at a point where bankruptcy is more scarce.
Now, real old people still have safeguards in place to help them from filing for bankruptcy.....like reverse mortgages.
All that I have just written is my own opinion based on real world experiences and I have the option of being wrong.
Keedy