Financial worries: Why waiting to file bankruptcy can be so damaging
Featuring Kristen Holt, CEO
21 June 2018
Filing for bankruptcy is often seen as an admission of personal and financial failure. Many people try hard to avoid it, but they end up paying the price for waiting.
The longer people wait to file bankruptcy, the more they struggle, according to a 2018 law review study. By the time they declare bankruptcy, their well-being and financial life are damaged, undermining the fresh start the legal tool offers them.
Here’s why waiting to file bankruptcy can be so damaging — and when you should consider filing.