Financial Education Begins With Bankruptcy

This article: After filing bankruptcy, a decision to get educated - The Boston Globe details the opinion of Amy McVety, 33, who thinks filing bankruptcy was the beginning of her financial education.

McVety filed bankruptcy weeks before the bankruptcy law changed. After dumping 35,000 in credit card debt, she realized she still did not have basic money management skills.

The new bankruptcy law has built in provisions to try to educate debtors through court ordered financial classes, their effectiveness remains to be seen.

McVety applied for the Boston Globe Money Makeover and received further post-bankruptcy financial counseling from experts and as the article says:

Though she's still grappling with the basics, McVety says the makeover
is helping her to feel like she's back in control of her life. The
focus, she said, is no longer on the bankruptcy, but rather on what she
can accomplish now that she has a clean slate.