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(The Center Square) – There are a handful of consumer protection laws Californians will see in 2025. Come Jan. 1, these five bills will take effect: AB 2017 - Declined transaction fees: Proposed ...
Loans, medical debt and credit card debt are generally all able to be discharged through bankruptcy. Tax debt, alimony, spousal or child support and student loans are all typically ineligible for ...
The study found that "about half" of bankruptcy filers in the year 2001 cited out-of-pocket medical bills in excess of $10,000 as a major contributor to bankruptcy (the average bankruptcy filer in this study was a 41-year-old woman with a median income of $25,000, slightly below the personal income average for that year).
Certain scholars and politicians have advocated for a reform of the law to allow states to seek bankruptcy. [6] [3] [4] They argue that the law will require voluntary consent by the state and will not give the federal government or creditors the power to force a bankruptcy; therefore it would not interfere with state sovereignty or be unconstitutional.
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In addition, those with medical debts may increase in the future due to increasing patient cost-sharing and rising health care costs. [17] Medical debt is consuming Americans, in fact, it is the number one cause of bankruptcy, because more than 60% of Americans deplete their savings due to some unexpected healthcare cost.
The committee held a bill to create a government-funded universal health care system, which Wicks has supported in the past. “We have an obligation to balance the budget here in California,” she said. "We can't go into debt, so we have to be very judicious with the budget.” Across both houses, lawmakers held hundreds of proposals.
Medical costs are a big problem in the U.S. In fact, according to the Kaiser Family Foundation, Americans owe at least $220 billion in medical debt.. Sadly, some people face a bigger burden than ...