EP 283 Bankruptcies On the Rise in America

: While total bankruptcy petitions nationwide by consumers and
businesses are well below Great Recession levels, most analysts agree
that there is a trend upward.  We dig into the numbers and the reasons
with Samuel Gerdano, executive director of the American Bankruptcy
Institute, the nation’s largest association of bankruptcy
professionals.  In many ways, this podcast is a primer on bankruptcy. 
Who knew its tenets rest in the Constitution?  As a nation of
entrepreneurs and risk takers, it makes sense that the roll the dice
spirit can lead to financial problems that require opportunities for a
‘fresh start’.  We give you important information on debt and the
protections available to you. A key piece of information relates to
which debt is dischargeable in bankruptcy and which is not. At the same
time, we learn about new legislation meant to help certain groups–small
businesses, family farmers and veterans–as they need work outs to move
forward. It’s an important podcast as we all amass debt to pay for an
education, a home, a new car or that dream business possibility.  We
found the person who has the broadest understanding of the issue in the
country for this discussion.