David Yen, a colleague of mine from Chicago, writes over at Credit Slips about how many people file for bankruptcy to keep their utilities on during a long, cold winter (or a long, hot summer in the case of an over-worked air conditioner). David aptly notes that filing for bankruptcy is not always the best option for people who are having problems paying their utility bills; in fact, some people may be able to avail themselves of the Low Income Home Energy Assistance Program (LIHEAP), local charities or payment plans worked out with the utility companies directly. David laments the loss of one of Chicago’s programs whereby people could pay for heat based on a percentage of their income, and comments that this option has now been replaced by bankruptcy.
Be sure to check out our previous post about utilities and bankruptcy.
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