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personal bankruptcy Archives

What might eliminate Chapter 7 bankruptcy as a debtor option?

Debt is part of a healthy financial snapshot for an individual and for a business. Ask any financial analyst, and they will tell you that a certain portion of a person's financial portfolio should include some percentage of debt. However, there is a point where debt can get out of control and make it difficult to make ends meet. It might be time to look at personal bankruptcy as a way to get your personal financial situation back on track.

What is a discharge of debt in a personal bankruptcy filing?

It can be so easy to get over your head in terms of one's financial obligations. Between the cost of living, medical insurance, and everyday expenses, a person can get buried financially. While it is possible to slowly dig oneself out of debt, it's not always a realistic option. That's why bankruptcy solutions exist, to help those struggling under the weight of debt find financial freedom.

What can filing for personal bankruptcy accomplish?

Thinking about the average person and the financial obligations that one may be facing, it can sometimes be daunting! The most common costs people must absorb include housing, food and transportation costs. However, the average person has student loan debt and other financial obligations that can quickly pile up in the form of unpaid bills and other debt. It doesn't take much for finances to get out of control.

How personal bankruptcy can help discharge debts

Finding oneself in a situation where money is tight isn't new to many Sacramento residents. However, pinching pennies is different from being completely overwhelmed by debts that seem never ending. If a person owes more than they can handle, it can quickly have an avalanche effect where a person feels buried by their financial obligations. The good news is that there is a potential solution for those who can no longer meet these obligations.

Can Chapter 7 help Sacramento families with financial challenges?

Life is expensive! Between essential living expenses like mortgages, groceries, gas and unexpected costs related to health care and life in general - it can make finances extremely tight. Actually, it can leave many Sacramento families in the red, meaning their costs exceed their income. While this can happen every once in awhile without major consequences, multiple instances or prolonged periods of time in which costs outweigh income can result in an unwanted financial situation.

Personal bankruptcy can help to resolve financial problems

That feeling of looking in your bank account to see a less than impressive number looking back at you is never fun. While we have all been short on cash at one time or another, some financial problems are more severe and can get out of control quickly. These financial issues are more than just being short on cash. When your debts begin to feel crushing and you can't make ends meet, it may be time to consider other options.


Law Office of Gilbert B. Vega
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