If you have fallen upon hard times because of student debt, and are considering filing for bankruptcy to get a fresh start, you may be worried about how it will affect you. There are many myths surrounding bankruptcy, which may prevent you from getting the financial help you need. According to United States Courts, "bankruptcy laws help people who can no longer pay their creditors get a fresh start – by liquidating assets to pay their debts or by creating a repayment plan.
If you ever find yourself (or a loved one) in jail awaiting trial for a crime, posting bail will allow you to get out and live your life until your court date. Depending on the accusations against you and your criminal history, your bail may be anywhere from $50 all the way up to hundreds of thousands of dollars. If bail is more than you can afford, there may be other ways to get out of jail.
You're busy going about your day when a relative calls from the booking office of a nearby prison asking you to post their bail. Your stomach churns when he tells you the amount--$10,000. He certainly doesn't have that kind of money, and neither do you. He quickly reminds you that you can contact a bail agent and purchase a bail bond. You contemplate this option for a minute. Is it really a wise decision?