America has a reputation of being a melting pot, filled with diverse people. Our country is made up of those differing in race, ethnicity, religion, education, economic opportunity. Yet, there is one thing that most of us all have in common: we aren’t prepared to deal with a financial crisis.
Savings or no savings – the average household remains ill-prepared to withstand a financial setback, according to a recent study released by The Pew Charitable Trusts. Setbacks don’t discriminate—they affect families of all races similarly. Even those with higher incomes can be financially disrupted when facing an emergency.
Unfortunately, many families don’t plan for the unexpected expenses or lost income that could come from being involved in an accident.
The median household does not have enough savings to replace even one month’s income. So, time and time again, families affected by a crisis need options. Consumer legal funding is the lifeline many people need to stay afloat.
A common denominator of American families—we need to be able to access to consumer legal funding if disaster strikes.