I developed a travel hacking hobby for the last few months. As a result, I have been following forums (Flyertalk forum) and Reddit channels (Reddit churning). I often come across stories of people asking questions on applying for a credit card after bankruptcy. You can never imagine just how many families suffer from these financial setbacks every year. Why people can’t avoid bankruptcy?
Even with sound savings and despite a sizeable emergency fund, bankruptcy is just an illness away or just a motor accident away. Some times it’s just around the corner through a job loss. But is declaring bankruptcy the only way to keep creditors at bay?