Trying to find your way out of a financial sinkhole can make you feel like you are barely treading water. The bills seem to come in relentlessly and just when you think you've found a shard of light, another expense falls in your lap, causing you to think you'll never be able to gain your footing. It is a rough spot to be in but it is certainly not uncommon. It's been said that nearly 80 percent of American workers live paycheck to paycheck, which means that one wrong move could land almost anyone in financial straits. When you desperately need to find a solution to your monetary woes, filing for a Chapter 7 bankruptcy may be able to help.
Liquidate & Start Over
Filing for a Chapter 7 bankruptcy can almost be the equivalent of pressing the reset button on your favorite game console. You play the game and go as far as you can but at some point, you realize you've run out of moves. No matter what you do, there is absolutely no way to beat the game so your only course of action is to hit the reset button and start all over again.
This is what can happen when you pursue a Chapter 7 bankruptcy. Most, if not all, of your debts are completely wiped out and you are free to begin anew. It's wonderful to know that there is a way for you to wipe your slate clean and paint a brand new financial picture that is more in your favor!
Get The Kind Of Credit You Deserve
When you first started your journey into adulthood, you may not have known much about the importance of staying on top of your expenses. It is relatively easy to get a credit card, and when you aren't very financially literate, you could max out your limit in no time with no ability to pay.
Now that you have grown and undergone certain experiences, you're in a better position to get it right the second time around. Filing for bankruptcy may have an immediate impact on your credit score, but if you patiently stay the course, you could find that your credit rating begins to hit high notes as you pay your bills on time and build a healthy credit history.
Schedule an appointment with a bankruptcy attorney to go over your options. If you decide to pursue a Chapter 7 bankruptcy, your lawyer can get the papers drawn up immediately. Contact a Chapter 7 bankruptcy attorney for more information.