Quote:
Originally Posted by woj
I do probably sound a bit like a cold asshole, but it's a bitch having to pay for someone else's fuck ups. It may not be obvious, but just like the bank bailouts, we are all indirectly paying the bill for all these bankruptcies.
It's one thing when a failed entrepreneur files for bankruptcy, but it's another when some careless idiot racks up well into 5 figures of credit card debt. Just look at these statistics:
"19% of Americans between the ages of 18-24 declared bankruptcy in 2001. (USA Today)"
"The fastest growing group of bankruptcy filers are those people who are 25 years of age or younger. (Senate Committee on Banking, Housing and Urban Affairs, 2002) " <= yea, I bet ya those are health expenses there 
"# The typical filer is a white, married homeowner who works full-time, with a household income of less than $30,000 and an average debt of $47,000. (Not including home mortgage)"
"# 19% of filers are college students" <- yup, job loss, divorce and/or medical expenses there for sure 
"# 51% of filers have a close friend or relative that has also filed " <- "What?! You are still paying off that debt like a sucker? File for banktruptcy, I did it, it was easy and painless!"
"# 63% of filers blamed credit card bills. 50% blamed mismanagement. 37% blamed pay cuts or job loss, and 28% blamed medical bills"
"# 43% of the general public polled said bankruptcy is an acceptable and easy way to settle financial difficulties"
Source: http://www.bankruptcylawinformation....event=dspStats |
funny they also say this :
According to The Fragile Middle Class: Americans in Debt; written by Elizabeth Warren, Harvard Law School and Smith Business Solutions:
* the average age of a bankruptcy filer is 38
* Couples filing jointly make-up 44% of all bankruptcy filings Another 30% of the filers are women filing bankruptcy alone.
* Just 26% of the bankruptcy filers are men who are filing alone
* Another statistic says the most bankruptcy filers are slightly better educated than the general population
* Two out of three bankruptcy filers have lost a job
* Half of all bankruptcy filers have experienced a serious health problem
* 91% of bankruptcy filers have suffered a job loss, medical event or divorce
* The states that have the highest bankruptcy rates are Tennessee, Utah, Georgia, and Alabama
* 40% of bankruptcies result from medical crises, unemployment or divorces
* 90% of these filers have two car payments, a house payment, and an average of $2500 in credit card debt
* 10% of filers were delinquent only 5 to 29 days before bankruptcy
I hope you may never have to walk in those poor peoples shoes.