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Healthcare costs are the leading cause of bankruptcy. Most people in bankruptcy do have some consumer debt, but it was a "reasonable" limit before their illness. Or they were laid off, used credit cards to help with monthly bills while looking for another job and then got sick and their house crashed in on them.
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There needs to be more, case-by-case research on this oft-touted 'fact'. What is the reasonable limit of consumer debt? I hope reasonable is not synonymous with common, because the common amount of consumer debt is certainly not reasonable
Where was the emergency fund that should have gotten them through a layoff - not CCs?
There are so many straws, before the final straw (health care costs) that breaks the Camel's back. I'd like to see the first straws.