Bankruptcy is sometimes the right choice, especially when a person's income has no chance of catching up to their debts. Bankruptcy can help eliminate debt and get you back on your feet. In fact, it is relatively quick and painless once you start the process.
Did you know that approximately 55 percent of people in America die without an estate plan or will? If you can help it, you could do all you can to make sure you don't fall into that statistic.
Many people believe that they can avoid appointing others as substitute decision makers until they can no longer make decisions on their own. However, this belief is a common misconception. Like most legal documents, you must be of sound mind when a durable financial power of attorney is created.
Bankruptcy can affect even businesses that seem as if they're doing well. Take, for example, the well-known shoe store chain, Payless ShoeSource. This store has been around since the 1950s, but after filing for bankruptcy the second time, it has decided to close its doors for good.