Most people that ended up filing bankruptcy or for one of three reasons, loss of job, medical reasons or divorce. And generally speaking, one or two of those leads to the others. If you have a temporary loss of income from a lost job or some other loss of income, you’re not able to pay your bills. You fall behind on the car that you need to get to work. You fall behind on the house that you need to care for your family that causes stress in your marriage. And that may lead to, a divorce. At which point you have to find out, find a way to pay for that house and those cars with the same income, but now two separate, places to live and taking care of the kids and everything else frequently. The medical bills are because the same thing caused the loss of job because you can’t work when you’re sick or they cause the divorce because of the stress and the relationship.
And, the medical bills themselves can be a reason for filing a bankruptcy. Especially if you are out of work, when you have a heart attack or something that causes a hundred thousand dollars, medical pills for a weekend at the hospital, these are the things that normal people can handle on their own. And so bankruptcy is there for that specific reason. You weren’t out, worked out, going on vacations and buying jewelry and furs things happened. Life went sideways and that’s what bankruptcy is there for. We’re not a country of debtor’s prisons. We’re a country of second chances and bankruptcy is there to help you get back on your feet and get back to fighting for yourself.