There are other options other than going bankrupt. I had a very good friend in college whose family when bankrupt and it was very sad because they even lost their home to a foreclosure and the thing was is that they build their home on land his grandmother gave them. And they built their home because his father built houses. It was a sad situation and even 15 years later they have not recovered from everything. They have terrible credit and things just never go their way when it comes to finances. and I think it is because they really don’t know how to manage their money. You can not go out and spend money that you do not have and that means credit cards. If you know that you can not pay it off right away or close to right away then you don’t get it and you live without that little luxury. It is as simple as that. But if you are in this situation then there are other ways and options to explore first before you take that leap and declare bankrupt. Abacus Finance is a site that can give you Debt Management Plans to better help you out and get you out of that financial trouble that you got yourself it. Check them out to see how they can best help you.
Filed under: Money and Finances