Monday, August 28, 2006

Personal Bankrupty on the Rise

Since we're just getting started on this gay personal finance blog, I thought it would be a good idea to share this article with you: "The Bankruptcy Boom is Back" by Liz Pulliam Weston, a regular columnist at MSN Money.

According to the article: "A tough 2005 law initially slashed the number of filings, but the numbers are rising again because the root causes of unpaid debt were never addressed."

The key point to take away from this article is that, despite the government's intention to bring down the bankruptcy rate, it did nothing in the way of personal financial education ... no media blitz on how to avoid and pay down debt without having to file bankruptcy.

Many of you may be in serious debt trouble now ... this law makes it harder for you to get out of trouble, without really providing any options for you.

I'm hoping that the articles to be posted here will help those of you who may be in serious debt, as well as those of you who are trying to build your own personal wealth and hope to avoid any debt in the process.

I do recommend following Liz Pulliam Weston's postings at MSN as well. She's usually got great advice!

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