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Posts Tagged ‘affording payments’

Saga of an American Bankruptcy

Many people may wonder how a person can fall into bankruptcy.  Of course, others completely understand the saga.

In part it may be the fault of the bearer that he or she has fallen into bankruptcy. But in many cases, or partially, it becomes the fault of the society that person lives in.

The most well known scenario is of course the person who builds up a certain life style and then loses their job or business.  Many times this is not the fault of the bankrupted person in any way. This would be a case where society was at fault.

There are cases that are more subtle though.  These are the less obvious and slower cases where a person gradually loses the ability to finance life.

Let’s use a person named Joe for this scenario.

Let’s say Joe has a mediocre job that just brings enough money so he Read more »