Title : The One Reason You Shouldn't Take on More Debt
link : The One Reason You Shouldn't Take on More Debt
The One Reason You Shouldn't Take on More Debt
The Great Recession has caused many people to lose their jobs and face financial hardship. But, recently, the amount of people filing for bankruptcy is going up. 137,698 people have filed for bankruptcy in July this year to help get protection from foreclosure, credit card debt help, and an end to creditor calls. Bankruptcy offers many people a fresh start. If we are told that the recession is over, why are bankruptcy filings not going down?
With numbers like these, it is almost impossible to pin down the exact reason why so many more people are filing for Chapter 7 or Chapter 13 bankruptcy protections. I can only say that my first hand experience at a bankruptcy law firm suggests that most people file for bankruptcy when they are experiencing a financial hardship. A lot of hardworking folks need help paying their bills, protection from foreclosure, and a chance to erase credit card debt. Many times hardship is caused by a painful event like a job loss or medical emergency that leaves families without pay and in a lot of debt.
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