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The underlying cause responsible for forcing personal bankruptcy filings higher may
seem inescapable. Congress seems intent to deny real causes and enact greater
obstacles for personal bankruptcy filings, while the true cause is a
seldom discussed, low priority issue. Be aware, private and federal
solutions are nevertheless available. The economy today requires all
people expand their options.
Filing Chapter 7 and Chapter 13 are ultimate solutions which may or
may not be practical. Only once you have explored all viable options
available will you be able to make an intelligent and rational decision.
For example, anyone facing medical bankruptcy because of massive
expenses created by serious illness or injury would receive little, if
any benefit from credit counseling. In practice, when courts and
trustees discover average income earners owing $500,000 in medical
expenses, the need for a full and final discharge is seldom questioned.
Bankruptcy Guides and Free Online Advice
Three primary forces compel most people into personal bankruptcy filings. No one
desires filing, yet seemingly unavoidable circumstances easily grow beyond
a point of control. Over 80%
of the debtors who file personal bankruptcy fit into at least one (and
frequently two) of the
following categories: 1) Unemployment and underemployment, 2) Failing health and
debilitating physical or emotional Injuries, or
3) Contested divorce and/or family law matters. Too often, these
common yet heart-wrenching circumstances grow stronger in combination to
a point of financial devastation.
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