Debt debt debt.... Is that all you can see? Bankruptcy will get you out of debt no question. There some value in finding out how you get in debt. Most people say they  had a problem and were forced into bankruptcy.  The simple fact is many people have never been trained about money management. I'm not saying bankruptcy is caused by mismanagement. Through years we've seen several people with bankruptcies caused by loss of job, medical procedures, or any number of things however, basic things like budgeting are just not done anymore.

A few days ago I spoke with a couple that were empty nesters. Between the two of them they were making about $160,000 a year. Most people could cover their bills with that level of income. They had no vehicle payments and their house is modest. When I sat down with them and compared their income to their expenses it showed they had about $3000 left over every month. They were almost incensed over idea that they would have money leftover. They quickly told me they were paycheck to paycheck and something must be wrong with my math.  Many of their deaths were payday loans or bad loans because they said their income just would not cover all their payments. 

I asked them point blank if they had a gambling addiction or perhaps a drug or alcohol problem. They were astonished at the question and just could not understand how I didn't see how poor they were. They believed they should be a Chapter 7 bankruptcy.  There is no way to qualify them for Chapter 7 . Their income was just too much and they were clearly going to have to be a Chapter 13 . When I told them they would be a Chapter 13 it looked like I hit them up the side of the head with a giant codfish. They were in shock. 

Unfortunately, this is not an unusual circumstance . Many people think bankruptcy is for people that are making minimum wage or a small amount of wages and have 3 or 4 kids . Simply bankruptcies can come in all sorts of shapes and sizes and situations. If you don't have enough money to cover your bills you need to consider bankruptcy . Many people first try to borrow their way out of debt which is a formula for disaster. Next they raid their investments. The real focus should be on budgeting and checking money outflowing from their budget

And I'm happy to sit down with people and go over their budgets and see how I can help them. However most people don't want that reality but prefer a reality where they can just file bankruptcy and wipe out the debt. However, if you want to avoid bankruptcy I am willing to help.  I  have successfully helped many people rehabilitate their credit through getting on a balanced budget.

Whether it's bankruptcy or simply fixing your budget we stand ready to help you in your financial journey.

Jack