The Knoxville News Sentinel has a story that starts off in all-too-familiar territory these days.
Things were going swimmingly for the Herrons until wife Patricia lost her job earlier this year.
With that income gone, the Herrons began falling behind on payments. Their cars were repossessed, and husband, Thomas, was forced to walk several miles to get to his job.
Now, the couple is facing foreclosure, and they've turned to their pet boa constrictor to help raise money.
While holding a garage sale to raise cash, they set up an impromptu photo studio with their snake. For $5, visitors could take a picture with the pet and leave with a printed copy.
This couple is certainly sharp and creative, but the story is also sad.
You shouldn't have to sell all of your possessions just to protect your home. Had the Herrons considered filing bankruptcy, they might have been able to keep their cars, home, belongings and snake.
Bankruptcy is designed to help just like the Herrons.
A good couple that, due to circumstances out of their control, fell on hard times. With the unemployment rate in Tennessee above 10 percent, many more couples may soon find themselves in financial dire straits.
Just remember: You have options. You don't have to lose it all.
Filing bankruptcy may help you control your debt, and stay in your home.
Tags: facing foreclosure, filing bankruptcy, foreclosure, snake
This entry was posted on Tuesday, July 21st, 2009 at 9:16 am and is filed under Financial Literacy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.