Bless You! Don't Get Sick - You Risk Your Credit Card Goes Bankrupt
09/28/2007 | Bankruptcy
There are many paths that lead from excellent credit score to bankruptcy. First that comes to your mind is extravagant irrational money expense. You can recognize this type of people at any store easily. Their carts are stuffed tightly with a number of useless things. They snap up everything that is within their reach. And by the end of the month they end up with an impressive credit card debt.
Curiously enough, but a passion for wasting money away doesn't take the first place in the reasons-leading-to-bankruptcy chart. Recently conducted surveys have shown that the most widespread cause of credit card bankruptcy is some serious sickness or even slight health problems.
The reason for that is quite clear, it lies in the tendency to put your medical bill on your credit card. That's no news that health care services in this country can drain any Rockefeller's wallet dry. And if your fortune falls far behind Bill Gates' one, you'd better be extremely careful not to get sick.
Otherwise, if you don't manage to pay off your credit card debt, bankruptcy won't keep you waiting. You can be a rational and smart credit cardholder, who pays all credit card bills on time and earns points on your reward credit card bona fide. But once you start visiting your doctor too often, your credit account will melt like sugar.
It's sad to admit that creditors make money on your health, but they do.
Even if you have never had any health problems and you doubt that some disease can ruin your credit account, please devote a few minutes of your precious time and read this article up to the end. It might be of use for you someday.
All of us get ill. No wonder, our environment, enormous amount of new and new viruses appearing day by day, changing weather conditions afflict our health. When you get sick you are not able to earn money, but still have your bills to pay and you spend extra money on treatment.
Your credit card debt rises, the most important here is to seize the moment when you come to the point of no return.
Credit card debt is something you can fight against and be on the right side of the hedge. While bankruptcy will remain a dark spot on your credit report for up to 10 years.
What can be done about all that? There is no panacea from all diseases and all problems that you might face.
All you can do about it all that is to be prepared for force majeure situations. You cannot predict the exact date of your next bad cold or stomach ache. Make some home savings for a rainy day. And don't rely entirely on your credit card. Unfortunately, it can't buy you perfect health, only at the cost of making you go bankrupt.
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Comments
Silvia, 07:52 AM, October 02, 2007
No one knows what can happen to him tomorrow, we can't predict that . I think that for such cases credit card companies should create something not to make people be afraid of applying for a credit card.
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