Our Story
In 1996 my father (Patrick Lawrence Crabtree – PLC) was laid off work and my mother, a housewife fourteen years since my birth, were unable to salvage their home equity. Later that year we discovered our father had three brain tumors. These tumors were the real cause of our father’s layoff as our father, mentally, was no longer himself. Our parents had paid over $100,000 into our home’s equity and our house was foreclosed on that year as we were trying to sell it.
In these humble beginnings, an Estimated 530,000 American families (CNBC February 2019 Article – This is the real reason most Americans file for bankruptcy, American Journal of Public Health March 2019 Medical Bankruptcy: Still Common Despite the Affordable Care Act) go bankrupt each year due to medical reasons. Factoring in household members, bankruptcy due to medical reasons impact 1,367,400 Americans (2010 Census, 2.58 people per household) yearly.
If just 10% of these bankrupt Americans have an average of $100,000 equity in their homes, it would come to $5.3 billion of equity lost in a year due to these bankrupt Americans, unfortunately, not being able to sell their homes due to the lack of funds to make their mortgage payments and stave off foreclosure.
PLC in combination with investors will retain 25% of this Equity of which comes to an annual gross company-investor income of $1.325 billion and will ease the suffering of 136,740 Americans, saving them $3.975 billion. This will also prevent 53,000 foreclosures in a year providing much help to the financial industry and the American economy.
The Story Behind Our Logo
When the newspaper people came out to do the obituary for our Dad there was a rainbow over the house that the church was renting for us when our Dad died. The newspaper people took this picture, did a story, and put us on the front page of the newspaper.
There were actually two rainbows over the house. Tricia (our little sister) said one was grandma and one was Dad. Grandma died just 3 months before Dad died and she was our only living grandparent. She was also our Dad’s Mother and our Dad was her only child. I remember her crying and saying her baby couldn’t die before her. She willed herself to death because she didn’t want to see her only child die.
I wanted the logo to come from this story and this is what our web development team came up with. The website is PLC.house and the Business name is PLC LLC named after our father Patrick Lawrence Crabtree.