Stay out of bankruptcy in your 20s

Young people can find themselves burdened with debts, but the solution isn't to declare bankruptcy. Here are 5 reasons they shouldn't file.

By Stephanie Christensen, Investopedia

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professorportfolio
Dec 23, 2012 7:19AM
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MOST PEOPLE FILING BK DO SO AS A RESULT OF LOSS OF JOB OR SERIOUS MEDICAL BILLS -- NOT EVERYONE FILING IS A DEADBEAT!    IN FACT MOST ARE NOT-- THE SYSTEM DOEN NOT FAVOR THE DEBTOR-- NEVER BE A CO-SIGNOR ON A STUDENT LOAN
hooch-hound
Dec 23, 2012 6:18AM
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You will never hear one of these so-called experts advise people any other way, it's always, "never file". I disagree with that because many times bankruptcy can be more beneficial than not.
RLJ1
Dec 23, 2012 5:26AM
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If your serious about your future and how your money can work for you.  I honestly say to look up  Dave Ramsey.  It isn't flashy but if you follow his plan you will do fine in life via money.  Unless of course your life is filled with the worst luck possible.
Like in Canada
Dec 23, 2012 5:23AM
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Of course this article neglects medical debt because the United States doesn't cover its citizen's healthcare. Exactly how should a 27 year old pay off $200,000 in medical debt from a disfiguring accident that private health insurance is refusing to cover?
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