garnishments

All garnishments can be immediately stopped by filing a bankruptcy petition.

If sense financial trouble.....

Get professional advice, preferrably from an attorney who concentrates in debt relief. Many people, desperate and not knowing what to do, use their exempt assets to pay some debt but find themselves still needing to file a bankruptcy. They could have saved those exempt assets they liquidated.

home inventory

Due to the numerous foreclosures, homes owned by banks are at a new high. My concern is if there are enough people with sufficient income to make reasonable payments on these uninhabited homes.

student loans

As student loans are generally non-dischargable, extreme caution should be used in taking out large loans.

too much debt

After the days of "easy" credit, many people just have too much debt to repay. Bankruptcy is probably the logical solution.

mortgage restructures

People should be weary that any mortgage restructure does not create more debt against the land. Many temporary restructures do not pay the interest accruing on the mortgage.

foreclosures

If you wish to save your home from foreclosure, do not let a judgment of foreclosure be entered even if the bank tells you they will still work with you.