Do you assume that people who file for bankruptcy are wild spenders, perhaps, or individuals who've been out of work for years?
Increasingly, that's not the case at all.
According to a new study by the American Journal of Medicine, the most common cause of bankruptcy is now medical debt. Perhaps most surprising? Among those people filing for bankruptcy, more than 75% have health insurance. That's right -- 75%.
It's a jarring statistic even to me, despite the fact that I understand better than most people the horrific financial toll that medical problems can take on Modest Needs applicants, between co-pays, deductibles, uncovered procedures, prescriptions, and travel for medical treatment.
In case you'd like to help stop this trend toward bankruptcy for one very grateful individual, here are just a few Modest Needs applications to peruse. Most of the time, we can't do a thing to make someone healthy. But we sure can make a difference when it comes to their bills.