Lawyer, survey connect financial distress with health issues
Financial distress and health issues could be connected and may be helped with bankruptcy law, according to John Skiba of the Skiba Law Group.
Financial distress and health issues could be connected and may be helped with bankruptcy law, according to John Skiba of the Skiba Law Group.
Citing an Arizona Republic article that reported a First Command Financial Behaviors Index findings of nearly nearly three out of four middle-class families who experience financial distress suffer related physical or mental health issues, Skiba said that bankruptcy could be the solution.
"If you have made up your mind 100% that you are going to file for bankruptcy, I would not pay another penny to a credit card company, medical bill, or other unsecured debt," Skiba writes. "If you have made the decision to surrender your home and are still paying the monthly mortgage, now is a good time to stop. All of those debts will be eliminated or discharged through your bankruptcy, so it makes no sense to continue to pay the debts now."
All of those debts will be eliminated or discharged through your bankruptcy, so it makes no sense to continue to pay the debts now."
According to the news source, the index completed a monthly survey of 1,000 citizens across the country with an annual income of at least $50,000 and found that 26 percent skipped or delayed visits to the doctor of common health-related concerns because of financial issues.
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