Most debt or credit problems comes from a sudden injury or disability that drains a family's savings.
Americans today are not saving enough and are spending more than their paychecks allow. Because of the lack of financial cushioning in case of an emergency, injury or disability, there results mortgage delinquencies and foreclosures in today's families.
Injury and disability are not usually things that come to mind when doing financial planning; however, not planning for the unexpected injury or disability is what leads to loan delinquency, foreclosure and ultimately bankruptcy. Nearly half of those who file bankruptcy is because of medical reasons and more than 25% said it was because of illness, disability, or injury.
There are many credit counseling services or home lending practices to help you with debt management, foreclosure prevention and all of your family finances after injury or disability. Check out ColoradoHomeLoan.org for further help and guidelines.