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August 2014 Archives

More than one option available for credit card debt relief

Credit cards have a way of being people’s closest comrades and simultaneously being their worst enemies. This is because the more that credit cards are used, the more people can buy and pay for. However, it also means that people incur more debt. Credit card debt may be particularly troubling if a person begins to have his or her wages garnished in order to pay back his or her financial obligations.

Bankruptcy may help individuals and business owners

People naturally have a desire to succeed financially, whether they are focused on building their businesses or simply building their households. That’s why facing extensive debt can be disheartening and make an individual feel frustrated. Filing for bankruptcy is often a responsible way of handling this unmanageable debt, in Pennsylvania and elsewhere.

Chapter 13 bankruptcy filed by restaurant co-owners

Facing extensive debt day in and day out can quickly begin to wear on a person in Pennsylvania, causing them to desperately seek debt relief. Two individuals in an out-of-state case recently found themselves in the red financially and thus decided to file for Chapter 13 bankruptcy. The husband and wife team co-own two restaurants.

Bankruptcy filing may impact loan cosigners

When debt seems to linger like an unshakeable cloud, a consumer in Pennsylvania may begin to feel desperate for help. Personal bankruptcy protection is available for those who wish to eliminate unsecured debts that have simply become unmanageable. However, it’s worth noting that filing for bankruptcy may have an impact on a friend or family member who cosigned a loan for a person who subsequently files for bankruptcy.

Credit card debt may be okay in certain situations

People in Pennsylvania are generally aware that debt on a credit card is undesirable. A majority of credit cards charge high interest rates, which makes it expensive to maintain a balance on a card from one month to the next. Credit card debt may also negatively impact one’s credit score, especially if the person’s cards are maxed out. It’s best to use credit cards in only a few select situations.

Bankruptcy may be beneficial to consumers with high debt

Being in debt in Pennsylvania can feel like being in an inescapable deep hole. The more a person may try to climb out of the financial hole, the more he or she may feel behind due to high credit card interest rates and inadequate income. There are a few signs that a person may benefit from filing for bankruptcy in order to finally remove his or her debt.

Chapter 13 offers protection from creditors, debt relief

A person may feel at a loss when it comes to paying down debt in Pennsylvania. Their constant efforts to get rid of debt may be of no avail due to inadequate wages and high interest rates on credit cards, for example. These individuals may qualify for a Chapter 13 bankruptcy filing, which enables consumers to finally say goodbye to stressful debt.

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