My brother is thinking about going to law school. He was looking into bankruptcy laws to see if he thinks he might be interested in being a bankruptcy attorney.  I guess he decided it really wasn't what he wanted. He doesn't think he can handle seeing people in financial distress, then charging them money to get out of it! So he is going to look into other specialties. We started talking about bankruptcy though. We were looking at statistics at how many people file for bankruptcy and what their income levels are.  We were completely shocked at how many well off people end up broke. As their income level rose, they chose to increase their debt load. That just amazes and shocks me. I could not imagine having several hundred thousand dollars or more in debt. Even with a great income, I just don't understand how it happens.  Whatever happened to paying for something after you had the money for it? Being a debtor seems to be the norm anymore. I can't stand owing someone or some company money. It eats me up inside knowing that my money has to go to pay someone else because I bought something when I shouldn’t have.