The reason behind increase cases of Bankruptcies, Debt settlement and Debt Management Plans in 2012

September 15, 2011 in Debt Relief

People have lost job, but do you think that only loosing the job will be only reason behind increased cases of Bankruptcies, Debt settlement and Debt Management Plans in 2012. The recent survey has displayed that people who have lost their job in early 2011 and middle 2011 have been found to be affected by heart problem, diabetes or high blood pressure. More than 47.67% of people who lost their job are actually found to be affected by medical debt, most of the people who will file for bankruptcy in 2012 are mentally harassed and health issues are adding problems to it.

2011 was year when highest numbers of Bankruptcy cases have been filed only due to unpaid monthly health insurance payment. Most of them have not been covered with health insurance plan and people in debt have further increase their debt due to their hospital bills and medical bills. The people who have lost their jobs recently have not paid their monthly insurance payments which have increased their medical debts 2012 with other financial debts.

Medical debts 2012

Medical debts 2012

 

The best way to handle debt management plan is to avoid further debts especially medical debts. One of most prestigious debt management counseling with growing unemployment people are unable to pay monthly health coverage payments which are increasing and increasing their due financial debts day by day. We also recommend all our debt affected clients to first cover their health insurance plans and than start repaying your due financials to your creditors in 2012. Medical debts are best way to pay off bad financials for future to safeguard your family from further financial trouble.

The best tip to decrease debt in 2012 would be to pay health insurance annual payment to cover under medical plans to avoid further financial debts and medical debts in 2012. It is necessary for people in debt to act smart and how to avoid further debts, medical debts cases are on top list of the reasons behind financial debts and Bankruptcy in 2012. Earn1money.com would recommend to pay minimum health insurance bills so that you can avoid heavily paid medical and hospital bills in 2012. This is only and best way to avoid Bankruptcy and avoid debts in 2012.

The people have been found to issues new credit cards to repay their medical bills of hospitals and doctor. The people with heavy debts know that they will need counseling of doctors and psychiatrist so they are more willing to pay medical bills and further increase their financial debts by issuing new credit cards. This medical debt situation and new credit card debt also worsen the situation of financial debt in 2012, we recommend not adding new credit card debt with your debt management plan 2012.

The conclusion of the research conducted by earn1money.com which has covered nearly 72,137 financial debt and Bankruptcy cases recommends to cover your further medical debts by health coverage to pay minimum health bills in 2012 for living stress free life and perfect debt relief program in 2012. Remember this is not just your personnel debt relief program this could result in national debt relief program 2012.

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The reason behind increase cases of Bankruptcies, Debt settlement and Debt Management Plans in 2012