The Chicago Tribune reports in an article titled, “If you’ve tried your best, bankruptcy can be a viable, survivable option” that Cate Williams, vice president of financial literacy for Money Management International, predicts a surge in bankruptcy filings through March of next year. Most people in financial trouble will do just about anything to avoid filing bankruptcy. They sometimes wait until long after they are mathematically broke.
Williams says, “We really see people just doing Herculean efforts: living in the basement of mom’s house, selling prized possessions on eBay. People will do absolutely everything.”
You may have already past the time to file bankruptcy. Do you answer any of these questions with a “yes?”
- Do you have a high amount of unsecured debt, including credit cards?
- Are you unable to reduce your total debt most months?
- Is your property going to be foreclosed on?
- Is the repo man looking for your car?
- Are your creditors harassing you?
- Do you owe medical bills?
- Do you have any judgments against you?
- Are you having IRS problems?
The U.S. Courts provide a series of Bankruptcy Videos that explain the process of filing bankruptcy. If you are worried about your financial situation, consider Ted Machi & Associates, P.C.’s FREE On-line Bankruptcy Evaluation.
