When Bankruptcy Becomes Personal

So how do you know if you may need to consider bankruptcy? Here are some telling signs, according to Raum:

· You have no idea how much you owe. "A client will tell me in the initial interview that she has around $20,000 in credit card bills," Raum writes. "But when everything is added up, that figure will sometimes be close to twice that amount. People don't really want to know how dire their situation is."

· You have too many credit cards. "Nobody needs three credit cards from Capital One," she says.

· You write checks when you know you don't have the money in the bank.

· You're hiding debt from your spouse. "If you're rushing to pick up the mail before your wife can get to it, you already know you're in trouble," Raum says.

It helps that Raum is an attorney. She sprinkles the book with firsthand knowledge of how the system works. There's a useful checklist of questions to ask during your meeting with an attorney. There's a section on pre-bankruptcy do's and don'ts. For example, if you're about to file for bankruptcy, don't even think about making last-minute charges on those credit cards you should have cut up long ago.

Overall, this is an easy read for a hard life-decision.

If you are interested in discussing this month's book selection, join me online at http://www.washingtonpost.com/ at noon Oct. 20. Raum will be my guest and will be available to take your questions.

To become a member of the Color of Money Book Club, all you have to do is read the recommended book and chat online with the author and me. In addition, every month I randomly select readers to receive a copy of the book, donated by the publisher.

For a chance to win a copy of "Surviving Personal Bankruptcy," send an e-mail to colorofmoney@washpost.com . Please include your name and an address so we can send you a book if you win. But if you're trying to file before Oct. 17, don't wait for a free book.

· On the air: Michelle Singletary discusses personal finance Tuesdays on NPR's "Day to Day" program and online athttp://www.npr.org.

· By mail: Readers can write to her at The Washington Post, 1150 15th St. NW, Washington, D.C. 20071.

· By e-mail:singletarym@washpost.com.

Comments and questions are welcome, but because of the volume of mail, personal responses are not always possible. Please note that comments or questions may be used in a future column, with the writer's name, unless a specific request to do otherwise is indicated.