Tips
to Get Out of
Debt
and Avoid
BANKRUPTCY
Fa
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For many American households, extraneous spending and poor
n
d
it
io
n
s i
n
money management combined with an unforeseen event, such
decades
as a job layoff, a health crisis, divorce or a death in the family, has
, man
y
resulted in the perfect cocktail for financial disaster. In fact, a recent
survey by FindLaw.com, the world’s leading online source for free
A
m
er
ic
an
s a
re
legal information, 10 percent of Americans have considered filing for
so
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er
in
g
personal bankruptcy at some point in their lives.
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There are several danger
deeply in debt
signs that you’re headed for
.
financial trouble. One of the most worrisome
is living paycheque to paycheque. If you are, you’re not alone.
According to a 2008 survey by the American Payroll Association, 71
percent of American workers are living paycheque to paycheque.
BusinessFocus • May/June 2009 | 67
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