Bankruptcy is more common than most of our clients think… in today’s world, it’s far too easy to run up overwhelming debt and lose control. While an unexpected bump in the road (like an automobile accident or loss of a job) can lead to a bankruptcy situation, many times people start down the road because they’re simply living beyond their means.
If you’re spending more money than you’re making, then you’re living beyond your means. Society pushes for instant gratification and a “you only live once” mentality – but that’s not a great strategy for handling your debts.
It doesn’t take much to start living beyond your means, and many times, it’s the beginning of a downward spiral that can’t be stopped. Once the debt starts to multiply, it’s harder and harder to find your way out of the difficult situation you’ve put yourself in.