Photo Courtesy of Flickr’s alancleaver_2000
Vinnee Tong, a reporter for the AP, recently wrote an article title “When Filing for Personal Bankruptcy Makes Sense“. My favorite part of his article succintly summarizes the strategic view one should take with respect to bankruptcy,
Bankruptcy is for people who can’t make their debt payments and can’t earn more income or refinance or renegotiate their debts.
I couldn’t agree more. With 1.4m bankruptcies in 2009, Mr. Tong’s timely article provides quick explanations for changes in bankruptcy rules and helpful tips in deciding which way to file.
I also find, to complement Mr. Tong’s article, that “Too broke even to declare bankruptcy” is a helpful article to prepare for bankruptcy and finding the finances to afford a bankruptcy attorney.
