Certainly would be refreshing to have someone side with consumers.
Unusual, too.
Good - it's the Worst Bill in the World unamended.
This is one bill that makes a huge (negative) difference in people's lives . I don't ever expect to go bankrupt myself (though, like most people, I don't expect a medical emergency either) but for those who need to start over it's crucial in a rich, prosperous country that they be allowed to keep something and move on.
I do feel like a serf making my monthly payments on those credit cards. Usury should be outlawed, banks should be watched for predatory practices, and ordinary people should wake up and get angry about this.
Posted by nyc at November 29, 2007 04:54 AMIn which other Western country can people go bankrupt because of medical bills??? Oh, but we can't have "socialized" medicine.
Posted by Gay Veteran at November 29, 2007 09:33 AMUnpaid medical bills represent unsecured debt and are now dischargeable in Chapter 7. Consumer bankruptcies driven primarily by medical debts are, actually, relatively few in number. Most individuals file bankruptcy because they are behind in mortgage payments or swamped by nonmedical consumer debt.
Posted by Insolvency guy at November 29, 2007 04:28 PM"Consumer bankruptcies driven primarily by medical debts are, actually, relatively few in number."
You must be joking. Or not know personally many folks afflicted with cancer or Alzheimer's disease. Or perhaps you work in the insurance industry?
Medical debts are a huge cause of bankruptcy in this country, I think over 30% IIRC.
Posted by Elliott Lake at December 2, 2007 09:15 PM