[CryoLogic]

Indeed, bankrupt in two years after a high paid career speaks of financial irresponsibility. However, it does seem that in today's world the good jobs are far and in between. The middle class of the 1950's keeps getting squished. And the bridge from low class to middle class is financed by debt that takes often 30 years to pay off (student loans).

[pnutjam]

If you have a severe loss in income, bankruptcy after 2 years is probably too late. She probably cleaned out her retirement funds, which used to be largely protected from bankruptcy. Just because she looked important at work, doesn't mean she was compensated as much as you all seem to believe.

[dragonwriter]

It seems natural that bankruptcy filings would normally be “too late” from a retrospective position; the negative consequences favor delay if turnaround is reasonably possible, but the best time too have filed will probably be in the past once you've determined you need to.