https://padlet.com/robertczielinski/assetprotection We are an organization dedicated to providing information about asset protection and self-settled trusts. Asset protection is generally not taken seriously until it is too late, but proper planning can avoid catastrophic losses. This provides you security during your lifetime and ensurers you can responsibly leave assets to your family. en-us 2019-07-30 22:09:03 UTC 2019-07-30 22:11:02 UTC hello@padlet.com robertczielinski https://padlet.com/robertczielinski/assetprotection/wish/372735640 New study finds that the majority of bankruptcy cases in the US are tied to financial strain caused by medical issues, suggesting that the financial burden on low-income families associated with healthcare in the US is still high.

July 07 / CA, USA

A recent academic study found that the majority of bankruptcies filed in the US are related to medical issues.

Researchers examined 910 cases of Americans who filed for bankruptcy over a 3 year period and found that 66.5% of them did so as a result of either unaffordable medical bills or time off work caused by a medical issue. Researchers also estimated that over half a million families in the US are forced to file for bankruptcy due to similar issues.

However, medical bills aren’t entirely to blame. According to the study, unaffordable mortgages were also tied to 45% of bankruptcy cases; and student loans were tied to over 28%.

The findings of this study are consistent with prior bankruptcy studies. Experts are concerned that the results suggest that the US is still struggling to reduce the impact of medical debt, despite introducing new measures like the Affordable Care Act.

Experts say that the reason unexpected medical bills could be so devastating for American families is that many people still don’t recognize the importance of having adequate health insurance and emergency savings. According to a study by Bankrate, less than half of Americans have enough in emergency savings to cover just $1,000.

Bankruptcy can often be devastating for families. Depending on the type of bankruptcy you file for, it can mean having your assets repossessed by creditors and losing access to credit in the future. Americans can guard their assets against repossession through asset protection strategies, but the data suggests that the majority of Americans don’t have these strategies in place.

Part of the reason behind this may be due to a lack of financial awareness. Companies like https://selfsettledtrust.com/ are trying to increase awareness of the importance of asset protection by providing Americans with information regarding asset protection and self-settled trusts.

Source: Self Settled Trust]]> 2019-07-30 22:10:03 UTC https://padlet.com/robertczielinski/assetprotection/wish/372735640