Tax season is fast approaching. For many bankruptcy attorneys, that could mean that their workload will soon increase. According to the Los Angeles Times, bankruptcies rise after tax refunds are issued.
Strange, right? Why go broke when you just received a lump of cash? We briefly alluded to this in a different post on how bankruptcy numbers rise in the month of February. Let’s go into this in greater detail, especially for those of you who may be considering bankruptcy in the not-so-distant future.