@andyjaggy,For every one of your stories where the insurance
companies "got ya" there is another family who did have many medical
incidents happen in the same year and they "got" the insurance
companies.Likely even in your case the insurance company paid more
to the hospitals than you paid to the insurance companies.
It was medical bills for us. We didn't have anything on our credit cards
our whole marriage. We used our 10 grand in savings for the down payment on our
house, and then a year later were hit with 8 grand in medical bills, we had no
choice but to put them on the card, and it's now a long haul back up the
hill trying to get them paid off. The upsetting part is that we had to pay so
many medical bills because we had a large incident at the end of December, which
went on 2012's "year" and then a baby a few months after that which
went on 2013's "year" If we could have moved things just 2 weeks
forward we would have owed half of what we did. Just one of the many ways
medical insurance companies get ya.
Often there are choices relating to money that people in trouble are not aware
of. Part of the reason they are in trouble is not because they can't decide
between two or three choices, but because they do not realize they may have
other choices. There are free counseling services (Like AAA Fair Credit
Foundation in Salt Lake) that can help people in financial trouble understand
what their full choices are and give them hope. Even small emergency funds of
$50 or $100 can make a huge difference in whether people have to resort to
credit cards or pay day loans. Unfortunately, it is hard to create an emergency
fund when the emergency strikes.
Not if it's your only choice between fixing your car, purchasing food or
purchasing school clothes for your kids. With a down economy and many employers
trading part time employment with no benefits (and 70% of all college
professors are part-time), there comes a time when a line of credit is sadly the
only alternative until things turn around if they ever do.
All most 30 Billion dollars was paid to the banks Just in overdraft charges.
That isn't what interest would give them. That is money thrown away for