RELIEVE YOUR DEBT WOES BY FILING FOR BANKRUPTCY

Debt is a reality of life for many of us in Ohio. This is especially true around the holidays when our judgments are susceptible to the whims of the season. The pressure to provide gifts for friends and family can push us past the limits of our bank accounts and leave us drowning in debt.

The first few months of each year can bring a reality check, and it is often intimidating to find a way out of a financial hole. If you are already drowning in debt from medical expenses, payday loans or an uninsured accident, the new debt from the holidays can be crippling. Evidence of this is seen in credit counseling centers, which receive heavy traffic at the start of the New Year. Although these centers provide information on paying back credit card debt, for many, this simply isn’t enough. If you are struggling to make ends meet, there is another option available to you. Filing for bankruptcy can provide the debt relief and peace of mind you need.

Filing for bankruptcy can eliminate a variety of debt types, enabling you to gain a fresh start. Types of debt that can be discharged through bankruptcy include:

• Credit card debt.
• Lawsuits.
• Foreclosure deficiencies.
• Medical expenses.
• Household utility bills.

There are many ways we can fall into debt, and dealing with bills and collectors each month can become a serious strain on our health and happiness. If you feel you are overwhelmed with debt, now may be the time to consider a new approach to your financial situation. This year, resolve to make informed decisions regarding your debt-relief options.

Source: FOX Business, “Help! I Spent too Much on the Holidays,” Donna Fuscaldo, Dec. 27, 2013