Posts Tagged ‘neal frankle’

The Truth About Bankruptcy

In this post over at Frugal Dad, guest blogger Neal Frankle asked this question: “Is it wrong to ask to have your debts forgiven?” In his post he mentions actor Stephen Baldwin, a born-again Christian whose income has dried up  as a result of his own choices to refuse roles based on his new-found faith, and who now is in bankruptcy.

The number one reason for bankruptcy is medical bills. The number is over 60%. Among those, more than three quarters have medical insurance. As for the rest, all report some sort of misfortune, most commonly a job loss or other decline in income. Only 9% of bankruptcy filers reported no misfortune.

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