Life is expensive today. Wages have been fairly stagnant since the 1980’s and this has put a real strain on the average working family as they try to make ends meet. Beyond that, there are many expenses in the average family’s life that need to be addressed, things that people just didn’t have to pay for in decades’ past. If you and your family is feeling the pinch of financial struggles, have you considered bankruptcy for debt relief?
Chapter 7 bankruptcy is just one way a person can seek a solution for crippling debt. Debt can come on for a variety of reasons in including a major life event, medical emergency, loss of a job and just plain old everyday expenses can pile up. Under Chapter 7, those seeking debt relief must qualify in order to be considered. Certain restrictions exist, like income thresholds, ability to repay debt and debt previously discharged among others restrictions.
However, most people can qualify for Chapter 7 based on their situation, history and current debt status. It’s a formal process in which it must be approved legally, by the court. Making a case for Chapter 7 can be well worth your while, as it can take care of crippling debt that is impacting the quality of every day life.
One needn’t live under the weight of overwhelming debt indefinitely. There is a way to find a permanent and more comfortable solution. This allows your life to be center stage, rather than your debt. This will allow a person and a family to move forward in a positive direction.