We are one emergency away from bankruptcy!

The majority of Americans are a healthcare emergency from financial collapse

It’s been reported that the majority of Americans have a medical emergency that is one or financial crisis away. It’s the same to an Lehigh Acres woman who reached for help from WINK News. Suzan Ambrosino agreed to help WINK bring a face to the issue of medical debt here within Southwest Florida. Being in pain and dealing with crippling debt are every day reality to Ambrosino, “Still some pain particularly with the rain and all that. I’ve got rods and screws and a cage that I have in my spine.” She was forced to undergo major back surgery in the past and described it as “A nightmare. Very depressing.” The cost was in the region of $140,000.

When she was on unpaid leave she was fired from her position “Had the operation, and was hospitalized for one week. Arrived home on the day of labor and hurricane Irma hit,”Ambrosino explained. Now, the costs have been piling up. Ambrosino is part of a worrying statistic.

How to Prevent Filing for Bankruptcy

In the same way that unexpected medical expenses or a sudden loss of employment can push nearly everyone into a difficult financial situation, those experiencing bankruptcy with BKHQ guide to idaho bankruptcy might be in this position because of bad savings and spending practices. In a world where living above your means is becoming common, the prospect of bankruptcy is a sharp signal of the necessity to change your lifestyle. Here are a few steps to help you no matter the reason your finances are fragile.

Create a budget and reduce expenses

The first step to change is to establish the amount you will spend every month. Making an annual budget is the fastest and easiest method of getting the most accurate picture of how much you spend.

It is the next thing to do: identify ways to cut back on spending. Secure your credit cards in an unlocked drawer (or leave them with an amiable friend to keep safe) and make payments in cash, either it’s the real green or via the use of a debit card or smartphone connected to a cash account for all purchases. (It’s best not to cancel your cards since you’ll lower the credit limit of your account and immediately increase the ratio of your credit utilization, which can be detrimental to your credit score.)

If you’re unable to live your life with only cash and you’re not able to afford it, reduce it. This is applicable to both the large and the small things, as every cent counts.

Claude Skelton Cline

The political commentator and a clergyman Rev. Claude Skelton Cline argued that the people of the BVI depend on a salary and face the possibility of bankruptcy. On the Honestly Speaking radio show recently Skelton Cline suggested that the government should establish “social insurance” to safeguard people from the possibility of bankruptcy.

“We must create significant social coverage for our country. It was common for people to 2021 to around 2020, who use all the vacation time to pay for this COVID-19 thing. They used every sick day and then when they are out of days when you need to pay them and they must be removed, and then they were walked out with no pay,” Skelton Cline said.

Skelton Cline called on Labor Minister Vincent Wheatley to look into the issue and suggested that the right systems must be put in place to ensure the welfare of BVI. “When we live payday away from filing for bankruptcy we are an emergency situation arises from bankruptcy. It’s not possible to continue living in this way. Stress can kill us,” he said. The priest also said that leaders must make clear the benefits and costs of a policy like social security, and make sure that it is carried out.

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