Bankruptcy is sometimes seen as a kind of "dirty word," but the reality is that bankruptcy has the potential to be very helpful for people who are struggling with their finances. Since the recession, many people have struggled to get their finances back on track.
No matter your reason for choosing bankruptcy, once you have filed you should have the feeling of a fresh start to your financial future. Fresh starts however mean you are back at square one and you will need to do some work to get your finances in order.
If you run a business, one of the worst feelings is that you've lost control of the financial aspect of the job. Sometimes, you might just have a bad month. Other times, you find you're buried in debt from purchases or losses throughout the year.
Retirement for many people over the age of 65 is being met with something in greater numbers than that age group has ever experienced before. A growing number of new and longtime retirees are filing for bankruptcy.
As a student, one thing you've been looking into is the possibility of a personal bankruptcy. Why? Your loans are too high. With the repayment making up half or even more of your income, it's impossible to make payments as well as having a home and any kind of life.