Unexpected and costly medical care is one of the reasons why some people have to file for bankruptcy. Even when they are able to keep up with their other bills, they might feel helpless when it comes to the medical bills. Unfortunately, there isn't a type of bankruptcy that specifically addresses only medical bills. Instead, you will have to file a normal personal bankruptcy, but you might find that this is beneficial.
Social Security Disability (SSD) is a program that is meant to help disabled workers. There is almost nothing more devastating than finding out that you can't return to work after an injury. For many workers, this means that they miss out on doing the job they enjoy, which can be difficult to handle mentally.
For the first time since 1982, the United States Social Security Disability (SSD) program is likely to have a higher expenditure than it does revenue for the corresponding period. This could be the start of a huge problem as the small difference becomes larger and the extra funds needed chip away at the reserves for the program. Many people say that it is time for a change, but this change needs to be carefully considered.
Have you ever thought about what leads people into a situation where they need to file for bankruptcy? In many cases, the answer has nothing to do with being financially irresponsible. Many people who find themselves needing this type of protection have become overwhelmed due to factors that they can't control. In some cases, this is an unexpected medical condition.
Hundreds of thousands of Americans have to file for bankruptcy every year. In 2016 alone, around 483,000 individuals filed for Chapter 7 bankruptcy while approximately 296,000 filed for Chapter 13.
Becoming disabled is a tragic situation for many workers. When you are accustomed to working for a living, it can be difficult to adjust to being unemployed. For some workers, meeting the definition of being disabled according to the Social Security Administration may qualify them for Social Security Disability (SSD) benefits.