Financial stress could mean you need bankruptcy advice. Here’s why. Financial stress is often due to factors that we ourselves cannot control. You go to work. You do your job. You get your pay check. But your pay check is buying a lot less than it did last year. If you buy gas and groceries, you already knew that.
Fact check on financial stress.
Food prices have risen 19% since the beginning of the year. That is huge. The cost of a full grocery cart last December is buying only 80% of a grocery cart today.
The other big budget buster is gas. A gallon of gas today in Los Angeles County costs about $0.20 more than it did a month ago. Buy 10 gallons, and it costs $2.00 more than it did last month.
It’s no surprise if you have financial stress.
When your pay check is shrinking in value, you must pay more money to buy essentials like food and gas. You have no control over that. You also have little or no control over monthly payments that are due on your home, and automobiles.
Are you carrying too much credit card debt? Credit cards, personal loans and revolving credit is the one area of spending that many people can legally eliminate. The bankruptcy laws may relieve you of such debts. The basic requirement is the court must be convinced that such debts were incurred under honest and good faith circumstances. Also, that you really can’t afford to pay them back.
Does bankruptcy make you feel guilty?
Bankruptcy makes most people feel guilty. Why is that? If you are a normal human being, you have a consicence. Your conscience tells you the difference between right and wrong. You feel it is wrong to break your payment promises. If you can afford to keep your payment promises, then you should. If you can pay your debts you have no business filing bankruptcy.
If you can’t pay back, wouldn’t you rather have a fresh start? The bankruptcy law is decent and humane. If you can’t pay your debts, bankruptcy relief may be an excellent option. Find out if you are eligible by talking to a bankruptcy expert.
Bankruptcy should be viewed the same as a divorce. Have you ever been divorced? At least 50% of all adults go through a divorce. Bankruptcy is like a divorce because you and your creditors used to be in a great relationship. But things changed. You need out. Bankruptcy is the legal termination of the old relationship that existed between you and your creditors. Debt problems also cause feelings of lonliness and isolation. Add a guilty consience to all that, and you could be feeling pretty miserable. That’s a bad way to live.
You can change the bad feelings. Talk to a bankruptcy specialist. People always say they feel much better after they talk to us.