That’s the number of bankruptcy filings in the United States (according to US Courts) for the 12 month period that ended March 31, 2012 – the most recent 12 month period for which statistics are available.
Obviously, if you are filing for bankruptcy you have plenty of company.
But when is bankruptcy a good option?
Bankruptcy has become so common, that is no longer carries the stigma it once did. In there are folks out there that think ‘YOLO, I’ll just declare bankruptcy if it gets bad.’ That doesn’t mean you should file for bankruptcy or that it doesn’t come with risks.
The Cost of Bankruptcy
When I talk about the cost of bankruptcy, I’m not talking about attorney fees or court filing fees – what I’m referring to is the effect it will have upon your life.
That will be much more expensive than a couple thousand dollars you will pay for the bankruptcy procedure itself.
Before filing for bankruptcy, consider the impact it will have on your life… Continue Reading