One of the most frequent concerns that we hear from consumers who are overwhelmed with debt but frightened about the prospect of bankruptcy is, "I'm worried that I have too much money to qualify."
If you've ever followed finance guru Suze Orman, you know that she always steers people away from taking out loans against their retirement accounts. Well, hold on to your hat, because Orman is advocating just that for desperate furloughed workers who are running out of fiscal options.
This week, approximately 800,000 furloughed government workers missed the first of what could potentially be multiple paychecks until the government reopens. For many of these individuals and their families, it spells nothing short of utter disaster.
Filing for bankruptcy is really an easy decision, especially for those who worry about the impact it may have on their future. Even people who are unfamiliar with the specifics of the process and how it works have probably heard about bankruptcies that cost the borrower everything and left them homeless. Fears about the consequences of filing may keep many borrowers who desperately need relief from getting the help they deserve.
The human relations director at your work brings you a sealed envelope.
Most people don't have a clear understanding of exactly how debt consolidation loans work. Having this information can help you avoid ending up in a worse financial situation than you are in currently.
What's the absolute number one topic you don't want to discuss with your family or friends? Religion? Politics? Sex?