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A double whammy experience on bankruptcy of a close friend of mine almost pushed her to end her own precious life.

Her oldest and ever-loved older brother had a lung cancer and since she’s the next eldest among siblings and they are orphans, she had no other choices but to shoulder the medical expenses.

The years of bank savings which she reserved for her future eventually all got exhausted, the debts are killing her and the saddest part, her brother died.

She recovered from personal bankruptcy over the months by getting more than one job.

All her savings were deposited to a local bank which she thought was stable until it abruptly closed and the operation was said to be halted by the Central Bank itself causing an extraordinary financial panic among its clients and members.

There were promises that she could still recover her deposits but it already took almost a year and she’s helpless and another personal bankruptcy threatened her.

She recently sought the help of a Las Vegas bankruptcy attorney with a hope to recoup from this another adversity.

Some of her friendly advice to avoid financial devastation, well, based on her experience:

1. Back-up and be alert. If trusting your money on a bank, be sure to regularly check its financial status by also referring to media reports. Whether reports may be true or not, at least, you can immediately act and withdraw your money, in case there’s an imminent closure. Yes, deposits are insured but it took a very tedious process before you can reclaim it.

2. Alternative to banking. Find ways to save your finances like joining credit unions which is run by the members itself.

3. Watch out your finances. Heard about the equation – income minus savings equals expenses? It is completely helpful to be frugal.