Accordingly, it’s important that you advise clients of their options to eliminate or reduce their debt through personal bankruptcy. To do so, you need a firm understanding of the types of bankruptcy, the filing requirements, and the consequences of this decision. The following SlideShare outlines these bankruptcy basics and much more.
By educating your clients about these bankruptcy basics, as well as which option would work best for them, you’ll give them the tools they need to make good financial judgments. Ultimately, that’s the path to a healthy financial future.
Editor’s Note: This post was originally published in June 2017, but we've updated it to bring you more relevant and timely information.
Are there other bankruptcy basics financial advisors should consider? Share your thoughts with us below.