People are often afraid of the negative consequences of bankruptcy. But the positive side is being debt free, with the ability to rebuild your savings.<\/p>\n
A significant number of U.S. bankruptcies are related to medical expenses, and most are due to unforeseen circumstances. A tragedy in the family, loss of work, and unforeseen home repairs that weren’t covered by a family’s insurance provider, are a few examples.<\/p>\n
When an honest debtor is looking at their bills and seeing a negative difference between what they have and what they owe, they may feel embarrassed about filing bankruptcy. It is true, credit will have to be rebuilt after a discharge, but the cost of blemished credit is often far less than servicing debt.<\/p>\n
Median credit card debt is $3,000 in the U.S. (We will cover average credit card debt in a moment.) If that debt is carried on a card that already has a high interest (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" People are often afraid of the negative consequences of bankruptcy. But the positive side is being debt free, with the ability to rebuild your savings. A significant number of U.S. bankruptcies are related to medical expenses, and most are due…<\/span><\/p>\n