Personal Bankruptcies Soar
The economic fallout from this recession doesn't show many signs of slowing.
Case in point: new numbers show that consumer bankruptcies in September jumped a whopping 41% over this time last year.
More than 1 million people have filed for bankruptcy so far this year. The American Bankruptcy Institute says it expects that number to hit near 1.5 million by the end of the year!
It's not just normal Joe's who are finding themselves in desperate straits. Celebrity bankruptcies have been in the news too. Actor Stephen Baldwin, baseball great Lenny Dykstra and celebrity chef Gordon Ramsey are just a few celebrities to recently declare bankruptcy.
If you are in over your head, remember, filing for bankruptcy should be your last resort. We can show you other options that will help you eliminate debt, like debt consolidation and debt settlement programs.
Sometimes, things are bad enough that bankruptcy really is the best option. Read on for help deciding whether or not bankruptcy is best for you.
Read More In: Debt Management
Ken and Daria Dolan have hosted their own national radio program for 22 years, anchored their own television shows on CNN, authored six books on money matters, served as money contributors on CBS This Morning and have now launched a comprehensive web site and free e-letter at Dolans.com.
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