“The Bankruptcy Reform Act of 2005 made it harder for individuals to file bankruptcy, which is always the last resort. Unfortunately, simultaneously consumers racked up so much debt that counseling companies - which are higher up on my list if you need help managing your debt - are sometimes unable to help. So if you fall into this camp, debt settlement may be something to consider.” IfsNeedsMayMadeSometimesHelpingLastsFallIndividualCompanyHigherHarderDebtListsMade ItReformConsumersCampsResortsFilesSettlementBankruptcyCounselingNeed HelpDebt SettlementUnable To Help Author:Jean Chatzky
“You need a clear, legitimate excuse for why you're behind [the bankruptcy], such as a layoff, divorce, or medical emergency. Be prepared to back up the circumstances with supporting documents. Anything you have to substantiate your story - including proof that you have, for instance, been actively looking for a new job - will help.” NeedsHelpingStoriesJobsBehindsClearCircumstancesPreparedIncludingExcuseDivorceProofMedicalInstanceDocumentsBe PreparedEmergenciesBankruptcyNew JobLayoff Author:Jean Chatzky
“If you are, consolidating at a lower interest rate can help you pay off your debt faster. But if there's even a small chance that you'll spiral back into debt, it's not for you.” IfsHelpingInterestChancePayRateDebtFasterSpiralsInterest Rate Author:Jean Chatzky
“Get your friends involved. Let your shopping buddies know that you're on a tight budget, and they can help you out when your willpower starts to weaken at the mall.” KnowsHelpingInvolvedBudgetsShoppingWillpowerBuddyMalls Author:Jean Chatzky
