Heather enjoys spending money. She lives in a nice apartment, drives a sporty car, and wears
fashionable clothes. She was so busy with her friends and having a good time that she forgot to pay
her personal income taxes last year. But it really does not worry her; she knows she will take care
of it someday. Heather thought she was a good money manager because she had several credit
cards and always made the minimum payments on time each month. But with student loan
payments, car payments, and all of those credit card bills, it is becoming harder each month to pay
her bills. And now, the government wants its money. She had a friend who filed bankruptcy last
year and thought she might do the same so she can erase her debt and start over. What would
you recommend to her?
File bankruptcy
Get credit/financial counseling
Get a debt consolidation loan
Why do you think this is the best option for Heather?