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Old 06-11-2006, 01:12 PM   #153
richlevy
King Of Wishful Thinking
 
Join Date: Jan 2001
Location: Philadelphia Suburbs
Posts: 6,669
Well, you can possibly survive on low-wage jobs as long as you or your family doesn't get sick.

Quote:
In 2001, 1.458 million American families filed for bankruptcy. To investigate medical contributors to bankruptcy, we surveyed 1,771 personal bankruptcy filers in five federal courts and subsequently completed in-depth interviews with 931 of them. About half cited medical causes, which indicates that 1.9–2.2 million Americans (filers plus dependents) experienced medical bankruptcy. Among those whose illnesses led to bankruptcy, out-of-pocket costs averaged $11,854 since the start of illness; 75.7 percent had insurance at the onset of illness. Medical debtors were 42 percent more likely than other debtors to experience lapses in coverage. Even middle-class insured families often fall prey to financial catastrophe when sick.
So as part of the mandatory credit counseling which people have to go through as part of the new bankruptcy law, I guess the advice given boils down to "don't get sick".
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