Going broke follows much the same rules as winning the lottery
â€“ which is to say, the rules of chance. Bankruptcy “reform,”
on the other hand, much like welfare “reform,” assumes that
people who benefit from the existing system just need a little
tough love to force them to take financial responsibility for
their own lives. Accordingly, the bankruptcy bill now making its
way through Congress makes it harder for middle-class people to
make a fresh start after declaring bankruptcy, because they will
have to pay back more of their creditors. Who declares
bankruptcy? About half of all debtors file bankruptcy because of
medical bills, even though three-quarters have health insurance
during all or part of their illness. Many lose coverage as a
result of losing their jobs. Three out of five can’t afford to
visit a doctor or dentist when they needed to, at least once
during the two years before filing for bankruptcy. Almost 40
percent of patients with terminal illnesses report having to
cope with financial problems