| BANKRUPTCY: No Easy Way
Out!
Bankruptcy is a legal procedure that can rescue people
drowning in debt. But a decision to file for bankruptcy
is a serious step. Many people are fooled into
thinking it's an easy way out. They're lured by false promises of "a clean slate." The
truth of the matter is that a bankruptcy stays on your credit record for up to
10 years. That may make it tough to get a good job and to find reasonably priced
credit and insurance. The key is to recognize when you're starting to get in
over your head. You know you're in financial trouble if bill collectors are calling
you. If you are having trouble getting your paycheck to cover monthly bills,
or if you answer "yes" to more than one of the following questions, you may
need to get help:
- Are you afraid to add up all of your debts?
- Do you regularly spend more than you earn?
- Are you forced to make everyday purchases on credit?
- If you lost your job, would you have difficulty paying next month's bills?
- Do you make only the minimum payments on your monthly credit card bills?
- Are you always late with bill payments?
- Do you routinely use credit card cash advances to pay off other creditors?
- Have you used money from your retirement account for current expenses?
- Do you put off medical or dental visits because you can't afford them?
If you've answered "yes," please contact the credit union for confidential assistance.
Be wary of so called "credit repair clinics." They charge high fees for help
that we can provide for you at no cost. |
© 2007
Wauna Federal Credit Union. 
Federally
Insured by the NCUA 
Equal
Housing Lender