Many people find themselves in situations where they can't afford their bills. Whether it's a result of a medical condition or your school loans, you have every right to get out of debt and to balance your financial future. As a young adult, you've just finished college and are starting a good job. Now focus on paying down your debt with these tips.
For far too many middle-class Americans, personal debt is a shameful secret that they carry with them every day. Their indebtedness covertly impacts many of their decisions, their interactions with others and even their concepts of self-worth.
Like any legal process, bankruptcy takes time. While you look forward to a future of debt relief, one simple, yet necessary step can bring you immediate stress relief.
Creditors try to avoid going to court to collect their debts. They usually prefer to work out payment plans with debtors because the litigation process can be costly and time-consuming. It is possible, however, to be sued for a debt. This is especially true if you missed multiple payments or failed to communicate with the creditor. If you have been sued for a debt, you should know that you still have options. You may even have a defense to the claim. One defense is that the creditor did not file the lawsuit within the statute of limitations.