This excellent article from Forbes makes a compelling case for why Bankruptcy can help some young folks without financial repercussions.
Here is an excerpt: “Working in the financial services industry, Henderson gained a unique insight by seeing others’ credit histories firsthand. She saw that people who filed for bankruptcy could still secure low-interest loans and rebuild their credit faster than she expected.
“When I was working as a bank teller, I saw people with recent bankruptcies getting auto loans at 2% interest and mortgages at 5%,” Henderson says. “That put me on a path of researching how bankruptcy would actually affect my credit, and I realized what I believed for so many years was wrong.”
Click here for a link to the article.