Courtney Henderson's journey from bankruptcy to financial recovery highlights the struggles faced by young adults in today's economy. After filing for bankruptcy at 28 while trying to launch her small business, Henderson learned the importance of financial management and credit use. Her experience reflects a broader trend, as bankruptcy filings among 18 to 29-year-olds have surged nearly 17% in recent months, driven by rising debt levels and interest rates. Many young adults avoid bankruptcy due to the stigma associated with it, despite it being a legitimate legal recourse for financial difficulties. Experts emphasize that bankruptcy is not a moral failure but can be a strategic tool for recovery. Henderson successfully rebuilt her credit score from 580 to 692 within a year after her bankruptcy by following a strategic plan. The article encourages those struggling with debt to seek professional advice and consider bankruptcy as a viable option for financial recovery.
Read the full article here.