Like millions of others before you in the US, you may have decided to file bankruptcy due to an overwhelming amount of debt. You probably never expected to be in such a position, but life is full of surprises and unfortunately, they are not always good when it comes to finances. If you have been struggling with a torrent of medical bills after a car accident, the loss of your job, a difficult divorce, or maybe even all these events in the past few years, filing for bankruptcy may be the best solution.
The goal behind filing for bankruptcy is to pave a new financial path for yourself, free of debt. The stories behind bankruptcy vary, however, and are often the result of unexpected, even catastrophic events. And just because something happens once, unfortunately, does not mean it can't happen again.
Most people who file for bankruptcy have been struck by an unexpected event that caused severe financial challenge. Illness or injury and medical bills may have eaten right through all your savings and extra income, or unemployment may have stopped you in your tracks. Whatever the case, bankruptcy can act as a powerful financial tool for getting back on track-especially with the help of an experienced attorney from a law firm like Levitt & Slafkes, PC.
Are you overwhelmed with debt, having reached the point where you can barely pay for the essentials, much less satisfy pay your creditors? You may have been doing your best to cope with escalating financial distress for months now or even years, but have finally decided to explore bankruptcy as an option. While this may be the smartest solution for gaining firm control of your finances, it can also be a difficult decision to make.
Using credit cards and promptly paying off monthly balances is often touted as a smart and easy way to boost one's credit score. But life isn't that simple. A spouse may lose his or her job, a child's illness may require an unplanned trip to the ER or a furnace could break down in the middle of January. Many middle-class American families simply don't have sufficient savings to account for these types of unexpected financial hits.
In recent years and months, the state of the U.S. health care system has been the center of much public and political debate. While many New Jersey residents likely have their own opinions related to health care access and costs, few understand the reality of the situation until faced with a serious illness or medical emergency.