THE BAD NEWS ON BANKRUPTCY

By John Ingrisano

By John Ingrisano

Director, Family Finance Conference Center

Times are tough.  A lot of folks these days are upside down on their auto loans, under water on their mortgages, and way in over their heads in credit card debt. 

So, what about bankruptcy?  In a word … don’t.  There may be times when declaring bankruptcy is a good decision, usually if you are inundated by medical bills or have been out of work for two years or so, with no job prospects in site.    

However, in the vast majority of circumstances, bankruptcy is a sign that people have been living way beyond their means, got caught, and have learned nothing.  In other words, it solves nothing.  Plus, even with bankruptcy, you cannot walk away from student loans, tax liens or back alimony.

So, before you jump into bankruptcy, make sure all your other options have been exhausted.  And then only do it after you have shredded your credit cards and learned a new way to manage your money. 

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Want to learn more about how to manage your money and your life?  Check out The Back to Basics Book of Money! A Couple’s Guide to Financial Peace.  The book contains 10 valuable Couple Money Skills.  Plus, the Back to Basics Book of Money Workbook (which dovetails with the main text) offers 31 practical, hands-on Wealth Builder activities that can help you and your partner build financial and domestic stability.  Both the book and workbook, which retail for $31.98 plus S & H, are available at the Family Finances Conference Center website for $27.99 total.

The Family Finances Conference Center tailors programs to the unique and individual needs of client organizations and their members and employees, based on the principles of the book and workbook set, The Back to Basics Book of Money!  A Couple’s Guide to Financial Peace. 

For more information, contact me at the Family Finances Conference Center by email (john@b2bbookofmoney.com) or my direct phone line (920-559-3722).

John Ingrisano

Director

Family Finances Conference Center

204 Lakeview Drive

Algoma, WI 54201

(920) 559-3722

john@b2bbookofmoney.com