Many people have a spending problem, especially when using ‘plastic’ or a line of credit. We all need to know that creditors and the collection agencies they hire should follow strict rules when attempting to collect on loans.
People view bankruptcy as a wake up call and well they should because that means they hit the bottom of the barrel and are now scratching the bottom – for more cash! If you believe misery loves company, be secure in the knowledge that there are at least 1.5 million people in there with you, that’s how many filed for bankruptcy in the last year. Anyone can over-extend themselves and many do for more reasons than I could count.
Filing for bankruptcy is not only used by the lower and middle class but the rich as well. Famous people have fallen into the hole and climbed out, people like:
Donald Trump, Filed in 1990 – Kim Basinger, in 1993 – Burt Reynolds, in 1996 Rembrandt, in 1656. I am not sure about the last one; he may still be trying to dig his way out!
