Former Louisiana Congressman Jefferson now struggling through bankruptcy

In the wake of a tidal wave of home foreclosures due to the sinking economy, some experts expect that Congress will have no choice but to take up bankruptcy reform this year.

Out-of-control medical costs have contributed to the ailing U.S. economy and pushed many consumers to the brink of financial ruin.

The downer economy is continuing to push home foreclosures and consumer bankruptcies upward.

Bankruptcy may not be for everyone, but there’s certainly no harm in at least considering it in your specific situation.

Filing for bankruptcy can buy a delinquent taxpayer time to either obtain a discharge or reorganization of tax liabilities.

Some debts not protected by federal and state debt collection laws.

Hopefully, by following these basic guidelines, you will be able to have better dealings with your debt collectors.

Make sure to educate yourself on what reputable credit counseling agencies provide, and don’t get taken in by any scams.

Families struggle after foreclosure, bankruptcy could have been a better option