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Interesting Article on Bankruptcy
By Molly's Brother | May 11, 2006
Click here to read an interesting article re: bankruptcy.
Towards the end of the article, the author mentions that bankruptcies are, among other things, fueled by too much credit card debt and interest rates that spike higher than 30% for making even one late payment. She also mentions that people are either uninsured or underinsured medically speaking. She notes that a study done by Harvard University found that “medical bills were a factor in half of consumer bankruptcies.”
In short, get/keep health insurance and stay on top of your credit card payments. The article notes that far too often, people who can dig themselves out financially opt to declare bankruptcy. Honestly, avoid declaring bankruptcy at all costs. I’ll spend more time talking about this at a later date.
Topics: Bankruptcy |