This is a continuation of yesterdays blog on debt reduction.
The majority of today's senior citizens are living below the poverty level.
According to a Time Investigation (Time, October 2005), many Americans
working in private industry today have lost the pension and health-care
plans they had been promised. This will drive millions of American into
poverty as they enter their retirement years.
In the United States, short-term debt for consumers is well over two
trillion dollars, according to the Federal Reserve.
In 2004, there were 2,062,000 people who filed bankruptcy in the United
States (BankruptcyAction.com).
Stay tuned in tomorrow for another look at debt reduction.
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With just $300 a month in extra income, 90% of all bankruptcies could be
prevented.