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SQUEEKY2's avatar

Without google, do you know one of the main reasons for Bankruptcy in the US?

Asked by SQUEEKY2 (12951points) March 31st, 2014

After you try and guess, go take a look and come back, then we will talk OK?

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23 Answers

marinelife's avatar

Medical costs.

filmfann's avatar

I guessed the top 4 in order. My wife and daughter have both had to declare bankruptcy at some point.
Personally, I feel the bankruptcy laws are too easy. I know someone who used to be a real estate agent who lost two homes due to bankruptcy, and he laughs about what fools the government is.

SQUEEKY2's avatar

You people are right it’s mounting medical bills, so why is the US one of the last, if not the very last industrialized nation on earth not to have universal health care for it’s citizens, shouldn’t absolutely everyone have access to affordable health care despite age, race, religion , or wealth?
Please don’t get this wrong there is no complaining about the US health care system, it is a top notch system but shouldn’t every citizen have access to that system without facing the possibility of financial ruin ?

SpatzieLover's avatar

Here is an answer I gave to a similar question days ago.

Medical bills from any type of medical emergency can swiftly take a person/family down financially.

KNOWITALL's avatar

@SQUEEKY2 I’ll speak for myself in saying I pay for my healthcare and pay my doctor bills because I want continued access to the innovative care that is provided here in the US. I know a lot of my fellow Americans do not make it a priority, since everyone has them, but I prefer good credit and paid bills personally.

Ans: There are several nations having top doctors in different specializations but according a survey United States is the country which has the most famous and best doctors in the world. qualified students and doctors from around the world come to USA for the to become top medical professionals. and USA is also famous for its Globally popular Mayo clinic which is located in Rochester. throughout America has better medical treatment providers as compared to other developed nations. sometimes they are expensive which a poor person can’t afford,since United States is famous for its excellent and expert doctors from all other countries in the whole world.

And the United States, with its high salaries and technological innovation, is also the world’s most powerful magnet for doctors, attracting more every year than Britain, Canada and Australia — the next most popular destinations for migrating doctors — combined.

Berserker's avatar

@KNOWITALL A lot of doctors and nurses from here go and work in the States instead, since the salary for people with medical professions here is terrible. There’s always strikes and stuff on the news about it.
Free healthcare is great though, as it won’t ruin me financially…but, get in line and wait haha. (minus emergencies, obviously…and even then…)

That’s why I put pepper on everything; can’t get sick!

KNOWITALL's avatar

@Symbeline We’ve had some bad luck in the last six years, but we’ve managed through sheer determination, but it’s definately hard to pay for it all, but not impossible.

I really feel if everyone made it a priority, it would be less of an issue.

ucme's avatar

Donald Trump’s hairspray bill?

bolwerk's avatar

I’m sure it’s government debt, considering how much attention that gets. Or pedophilia.

GloPro's avatar

Medical bills
Credit cards

Coloma's avatar

Yep, medical bills, most of which are filed by those with insurance.
I am a boomer gone bust the last few years and have done extensive research on the looming senior boomer crisis. A tidal wave of carnage is on the horizon.

BeenThereSaidThat's avatar

People living beyond their mean. charging, charging, charging.

Coloma's avatar


Not always the case. I went form being completely debt free for years to losing my work and am now 15k in credit card debt from having no choice but to skim the cream off my card to make ends meet over a 2–3 yr. period. This economy has forced many people into debt. What the hell can one do when they lose half their income or more?

syz's avatar

Medical expenses.

ARE_you_kidding_me's avatar

Medical bills, divorce, job loss.

hearkat's avatar

Since they no longer allow college debt to be a reason for bankruptcy, I would guess job loss in the past 5 years.

SQUEEKY2's avatar

@KNOWITALL and if you read my answer I wasn’t looking down on your health care system,just the case that over 55million of your own citizens can’t afford to access it.
That’s the complaint not your health care , because you have top of line hospitals, staff and so on, but shouldn’t ALL US citizens be able to access that great system with out facing the possibility of financial ruin?

ARE_you_kidding_me's avatar

I think we need a state run catastrophic care plan as a safety net for those who need it but not a huge bloated mess. The best part of my healthcare plan is a health savings account. I have a high deductible plan that is inexpensive and what I would normally pay in premiums for the normal plan go into the savings account. When I need care I just pay for it. I think the for-profit insurance companies have really screwed things up.

rojo's avatar

Medical bills?

Inability to balance a check book?

KNOWITALL's avatar

@SQUEEKY2 It depends on your politics and perspective. I personally don’t expect anything for free, including health care.

SQUEEKY2's avatar

@KNOWITALL totally right, the poor should just die if they get sick, and the lower middle class should face financial ruin if they get sick and should need medical attention good point, and who said FREE , free and affordable health care are 2 different things all together.
WHY is universal health care so bad, while universal public school, fire, and police is not , I just don’t get it shouldn’t all US citizens have access to affordable health care ?
The US is one of the last if not the very last industrialized nation on earth not to have universal health care for all it’s citizens, shouldn’t that be a lesson in it self?

bolwerk's avatar

Police and fire protect property. Police have the added bonus of brutalizing poor people. which gives authoritarians an erection. Neoliberals can afford their own care and don’t need insurance, dammit. Also, they can sell it to you if you want it.

Neoliberals have been waging war on public schools too. They just don’t do it as openly because public schools are popular with almost everyone who has or plans to have or will have children.

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