Filing Bankruptcy to Become Debt-Free
In the past, our parents and grandparents lived their lives with the goal of living debt-free. Since the credit card revolution back in the 1970s, the term debt free has almost disappeared from American society. It’s hard to live a debt-free life. In this technology driven fast-moving society credit has become a necessary evil to get by. It is still possible to live a debt-free life set aside from a mortgage payment, insurance and other household bills. When people should really be striving for is to eliminate credit card debt from their lives.
Are you a person who is having sleepless nights due to overwhelming debts? Then bankruptcy is for individuals like you. If you want to stop the harassing calls from your creditors and get back to leading a normal life bankruptcy can give you the relief to make it possible. Call or fill out the form now to get a FREE NO OBLIGATION CONSULTATION with a bankruptcy attorney in your area. It will only take a few minutes to change your life.
Living Debt Free Is Within Reach
The debt numbers just came out for 2011 and as expected are frightening. The average American has $15,799 in credit card debt and added to this list is one in seven Americans have at least 10 credit cards. Compounded even further with the average credit card interest rate at 13.1%, it’s obvious that this debt will never be paid off without these individuals filing for bankruptcy. The creditors want to keep Americans in bondage to this debt so consequently they downplay bankruptcy filing as being taboo. They spent a lot of time spreading misinformation of how filing bankruptcy will ruin one’s life by making them never able to get credit again. This is so far from the truth I guess it almost seems believable.
Filing Chapter 7 Bankruptcy with Becoming Debt-Free As a Goal
The quickest and easiest way for someone that is buried in credit card debt to become debt-free is to file Chapter 7 bankruptcy. Although it’s not a guarantee that the debtor will be debt-free after filing bankruptcy, but depending on their personal situation there’s a good chance of it. As long as the individual doesn’t have any court-ordered obligations or has decided to keep an automobile loan or other secured debt, there is a good chance after the bankruptcy discharge the individual will be debt-free. Filing Chapter 7 bankruptcy will wipe out all unsecured debt with the bankruptcy discharge. This includes credit cards, medical bills, payday loans and personal loans. In today’s society these are usually the bills that send a person’s finances into a death spiral. It’s a good idea to consult a bankruptcy attorney and discuss your personal financial situation to see if becoming debt-free could be in your future.