frrussre

More people in USA, lose their homes to bankruptcy (Caused by unpaid medical bills), then any other reason.

This is pasted tense, because we now have the subprime, mess.

Yes, hospitals, do chase people for unpaid bills, yes you will end up in the court system for not paying, whatever is the final agreed amount.

Reg. Frank R "Ah I can smell the coffee"

frrussre

http://www.mlive.com/business/west-m...riving_fo.html

"The Tiltons are not alone. A nationwide survey by Physicians for a National Health Program found medical debt figured into more than 62 percent of all personal bankruptcies filed in 2007."

"Of 1.4 million bankruptcies forecast for 2009, 866,000 will be driven by medical debt, Woolhandler said"

Fish n Chips 56

Thanks for your bankruptcy info frussre, its very much appreciated.

While some people seem to look at bankruptcy as just another choice I take it very seriously, I'm sure most people think it just ruins your credit for a while and that's not such a big deal, but its a big kick in the gut when you are already struggling with heath issues.

Bankruptcy affects people and this country in many ways, some indirectly.

In some jobs your future employer can request your fico score, if your fico score is bad you may not get that job, that's not a plus if you are in sales, handle money or make financial decisions for the company.

The price of car insurance is also affected by your fico score and bankruptcy, why should you pay more for car insurance just because one of your family members was very ill.

If you or a family member are always needing treatment, chances are you always be in financial trouble, lets face it only the rich can afford great healthcare insurance coverage.

Bankruptcy has a ripple effect, this affects the US Economy and its people in a negative way, those 866.000 people that went medically bankrupt in 2009, will struggle this year and for a few more years to buy goods and services, the same goes for all the other people that went medically bankrupt in the past few years, In essence you have at least 4 million people that cant afford goods and services that they otherwise would buy, this costs Americans jobs.

On the other side of the coin it provides jobs for people in the bankruptcy industry.

When someone loses their home due to medical bankruptcy who wins, obviously a investor that goes in and buys that property cheap or a bank if the equity is big, again the wealthy have it good.

I've never heard of a person in the UK going bankrupt over medical issues.