Standard 13: Bankruptcy

PFL.13.1 Analyze the costs and benefits of bankruptcy as a last resort for individuals and families facing financial challenges.

PFL.13.2 Explain ways to avoid bankruptcy and identify alternatives to bankruptcy (e.g., budget management, debt management, refinancing, and financial counseling).

PFL.13.3 Describe the importance of reestablishing a positive credit history and recommended steps for improving a credit score after bankruptcy.