Whether you’ve lost your job, faced huge medical bills or simply fallen behind on your debt payments, bankruptcy can seem like a way to get some relief, but it also has some serious long-term effects on your finances that you must consider.
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While United States Courts reported a nearly 12% year-over-year jump in personal bankruptcy filings as of June 30, 2025, in a recent YouTube video, financial expert George Kamel, gave five reasons why you should avoid bankruptcy at all costs. Read on to explore what Kamel recommended in terms of what to do instead of pursuing…