Methods to avoid Bankruptcy
No one wants to file bankruptcy. On a daily basis I have individuals and couples that come into my office to discuss bankruptcy as a final option. Even when these potential clients come in to discuss a bankruptcy many are still convinced that some other remedy may exist for their financial problems. For the individuals who have recognized that there is a financial problem early some meaningful alternatives exist. For the individuals who have struggled for years, borrowing from family and friends, transferring balances from one credit card to another and using retirement and savings to temporally pay down the credit cards, bankruptcy is the only option.For those in the first category credit counseling, bill consolidation, and out of court settlements may be a viable option. In future blogs I will discuss the benefits and pitfalls of each of these alternatives to bankruptcy.
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