Who do you think files for bankruptcy? Why do you think people are filing for bankruptcy? These questions may seem easy to answer on the surface, however if we look more closely we can see that there is not one reason why someone files for bankruptcy. Let’s take a look at an average family who is living within their means and doing “everything right.” They certainly would not be someone that would need protection from the bankruptcy laws right?
First of all we would expect them to have health insurance. With health insurance their medical bill are covered right? That would depend on the type of plan that they have and what kind of medical issue they are facing. What is their deductible? What is the co-pay percentage? With most plans the co-pay percentage is 80 – 20. This means that insurance pay 80% of the bill after the deductible … Read More