Most folks who file bankruptcy end up doing so because they’ve incurred sky high medical bills. (The second most common cause is the loss of a job.) And, when you file bankruptcy, you are asking the court to approve a payment plan to settle your debt (ranging from pennies to quarters on the dollar)- or, dependent upon your income and assets, to completely rid you of debt. Of course, you now have a seven year to ten year scarlet letter on your credit history. And, most employers (unless and until this practice is outlawed) check your credit history before offering you that new job.
Continue reading Oops, there goes another kilowatt dam?
Share this:
