10 Aug Top Ten Personal Finance Mistakes – Part 11
“Wait!”, you say, “I thought you said there were ten personal financial mistakes?” The worst personal financial mistake you can make is not to admit the mistakes you have made and take the action to correct them. It is possible to get in so deep that the only way out is bankruptcy.
Consider whether legal action to gain the opportunity for a “do over” is appropriate. Bankruptcy is not for everyone, nor is it a solution to every financial problem, but it may be the only legitimate solution for your situation. Consult not only with a financial professional, but also an experienced attorney who can review your personal finances and decipher the codes and clues of your situation. By applying your goals to your current mess, a solution can be found that may include restructuring your debt burden, litigating against overzealous creditors and ultimately, filing a bankruptcy petition to get a fresh start.
Filing bankruptcy does not mean completely starting over and may be a valid choice for your circumstances. Just review any number of the articles on this site to see what considerations you might make and then go to the “Find a Lawyer” section to pick a professional in your area.