The economy is in recession, and job recovery is slow. Stagnant wages, persistent unemployment, and the inevitable bumps in the road of life have created unsustainable debt for many hard-working people. While Get-Out-Of-Debt-Fast schemes abound, the best path may be bankruptcy - wipe the slate clean and start anew. But filing for bankruptcy can be a big step...
Bankruptcy More Common Than Divorce
The truth is, bankruptcy filings in Massachusetts are more common than divorce filings (~13,000 in 2008). Surprised? Divorces may be more public because relationships are more public (especially in today's Facebook age), while bankruptcy is something that people are private about (no Facebook "solvent/insolvent" status button). But bankruptcy is nothing to be ashamed about!
If everyone who declared personal bankruptcy in 2012 gathered together, they would fill the TD Banknorth garden (formerly Boston Garden)!
Bankruptcy = Halftime
Life is not like Monopoly; declaring bankruptcy is not the end of the game. It's only halftime. It's a chance for fresh beginnings and a new life. Talk to a lawyer to understand your options, and find the best bankruptcy lawyers in Massachusetts here.
(Source: United States Courts, last twelve months ending in March)