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Promoting a Proactive Approach towards Financial Security

Redwood City California Bankruptcy Law Blog

If debt is drowning you, rescue is important, not the cause

There are few things in the world that are certain. Death and taxes come to mind as being proverbially the surest things in life. Another thing that might rank on the list is the cost of medical care in the United States. As recently as March of this year, a JAMA study found that consumers in the U.S. spent about twice as much as individuals in other high-income countries.

Many readers likely remember that just 10 years ago, we went through the Great Recession. Over the course of that downturn, bankruptcy rates shot upward in California and everywhere else. A common claim then was that a major driver of bankruptcies was medical bills, with some estimating that health care costs accounted for as many as half of all bankruptcies at the time.

Has the financial crisis caused you to worry about losing your home?

California has much to offer in the way of amenities to visitors and homeowners alike. Whether you grew up in this state or came to live here from someplace else, you may be one of thousands who enjoys the temperate climate, beautiful scenic views and adventurous activities you can easily access on the West Coast. However, like most other states, the economy here ebbs and flows.  

If you're currently facing a financial crisis, you are not alone in your struggle. The good news is that most financial problems are temporary. How swiftly resolvable they are often depends on the type of support resources available. If you're worried about losing your home to foreclosure, there are several proactive steps you can take to increase your chances of saving your home and getting your financial life back on track.