For someone that is buried under a large amount of debt and feels there is no way out, there is still hope out there. Nothing is worse than living with the stress of not knowing whether you will cover your bills at the end of the month. Many Americans are sharing these problems paying their bills by robbing Peter to pay Paul. At some point in time, they will end up kiting themselves into oblivion. Borrowing on one card to pay another will only end up bad. The topic of becoming debt-free is something that most will read about in history books. Back in our grandparent’s days, people had savings accounts and the only way they would charge something is on a layaway account. For those who don’t know what a layaway account is when a person wants to buy something like a fishing rod from the sporting goods store and doesn’t have enough money. They make a down payment to hold it and continue to come in and make payments until it’s paid off and at that time pick up the property they have been waiting on. Today, those people paying their bills probably don’t even remember what they owe them for. Credit can be a good thing when it’s used to buy a home or car, but when left unchecked it will burn out of control like a wildfire. Living debt-free is a much simpler way to live and can be very rewarding.
Most people don’t realize it, but becoming debt-free is totally within reach. The fastest way for someone to become debt-free is filing bankruptcy. When someone gets the point of juggling their bills, they are probably ready to speak with a bankruptcy attorney and consider filing bankruptcy. For people that have large amounts of unsecured debt, filing Chapter 7 bankruptcy is king. The people that are struggling being buried under a mountain of credit card bills can be put at ease by filing Chapter 7 bankruptcy. A Chapter 7 will wipe out all unsecured debts including, credit cards, medical bills, personal loans and payday loans. This just about covers the entire gamut for the average person. The whole process takes about 4 to 6 months to get a bankruptcy discharge. The person filing will no longer need to worry about the creditor calls as the automatic stay will stop that immediately. The automatic stay will also stop foreclosure, lawsuits, judgments and wage garnishments. Personal Bankruptcy was created to help good hard working people get a second chance with a new financial future. Most people have forgotten that, . With constant changes to the bankruptcy code, it’s best to use the expertise of a bankruptcy attorney to make sure one get’s the maximum benefit. Every month a person pays bills that they know they can never payoff is one more month that they’re throwing that money away.