Elizabeth's Money Trouble Part 1

Elizabeth's Money Trouble Part 1

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Storyboard Description

Bankruptcy Children's Book

Storyboard Text

  • Elizabeth's Money Trouble By: Ethan and Elizabeth
  • Ethan, I made some bad decisions with my money and I need your help.
  • It's okay, Elizabeth.  Everyone makes mistakes especially with their money.  What mistakes did you make?
  • I have too many monthly payments so I got credit cards to help pay it off and now I don't have enough money to pay anything off.
  • Well you could always consider bankruptcy if you cannot pay your debts but I would recommend you to fix your spending habits and stop using credit cards as well.
  • What's bankruptcy?
  • Bankruptcy protects people and businesses by giving them a second chance when they make bad decisions and helps them get out of debt when they cannot pay off their debts. 
  • Huh. What are my options for bankruptcy?
  • You can do the shorter option and give up some of your things called Chapter 7 bankruptcy.  Or you could do the longer option where you eventually pay most of your money back but do not give up your things called Chapter 13 bankruptcy.
  • So if I do Chapter 7 bankruptcy I don't have to pay my debts? I just have to give up some of my stuff?
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