Mr Beddell-Pearce suggested that a system of car insurance used in the 1930s - whereby anyone refused insurance by three companies could go back to the first firm approached and demand cover - could be adapted to meet today's needs.

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"A lot of guys have to go back to their banker to ask for more money" to cover added pumping costs, he said.

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Once all debt is eliminated he advises to go back to building an emergency fund that contains enough funds to cover at least three to six months of expenses.

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But let's go back to what Governor Romney indicated -- that under his plan, he would be able to cover people with preexisting conditions.

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