Despite the rumors, bankruptcy still exists.
Why do we need bankruptcy? Persons enter into financial obligations, intending to
make the payments. Then something happens.
It might be a huge medical bill without insurance, a loss of income from a job change. or
a divorce splitting one household into two. It might involve late payments charges, an increased interest rate on a loan, and penalties for late payments.
It might, in short, involve any combination of the unpredcitable events that happen in life with dramatic financial consequences.
If your financial situation has grown unmanageable, you may need to consider bankruptcy.
Yes, of course, bankruptcy should be your last resort, but it may, ultimately, be your best choice.
I should know; I’ve been there—I filed bankruptcy.