The Challenge

By admin • June 1st, 2010

Many very successful, high octane professionals are facing a substantial dip in income. This dip was initially limited to professions like realtors, builders and related fields, but no longer. Even traditionally “safe” government employees are experiencing furlough days and layoffs and personal finances are the casualties.

The economy has been a real game changer, on both the income and debt side and everyone, including financial institutions, have been struggling to acclimate. What most people need is a reprieve on the debt side as they concentrate their efforts to meet new challenges on the income side. They need some breathing room from the constant pressure of bills, creditor calls and loan modification headaches so they can direct their energy on hitting it out of the park financially again. They need to be able to use their income, their greatest wealth building tool, not parcel it out to barking creditors.

Bankruptcy is perfect for that purpose. It’s like an army retreating, regrouping and planning their new offensive. Many wars have been won with using a well-timed retreat and bankruptcy is that financial retreat that allows you to live to fight another day.

 

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