Debt can be crippling. Many in Sacramento are living with debt. And the situation is worsening. But how do you get out of debt? This recent news story offers tips to relieve your debt dilemma. But the options offered presume you have the money to, at minimum, pay down your debt. What do you do when you don't have the income to do that?

Bankruptcy is an option when you cannot afford the debt you have. Filing bankruptcy allows you to discharge your debt. This means your debt can be eliminated. Typically people who file bankruptcy can retain their property and still get out of debt. There is often nothing to lose. Credit is impacted by filing bankruptcy, but so is debt itself. That's where bankruptcy comes in.

When you have too much debt, something needs to be done. If you don't have the money or resources to get out of debt, the problem can only worsen. Bankruptcy is a way to get out of debt. Bankruptcy offers credit relief to those who cannot afford their debt. If you can pay your debt, even if only a portion of it, bankruptcy law requires you do so. For those who can't pay their debt, a bankruptcy discharge is often the best solution.

Though bankruptcy impacts your credit negatively, the elimination of debt is helps it. If the elimination of your debt is more beneficial than a bankruptcy filing is negative, bankruptcy should be considered. Filing bankruptcy is better done sooner than later. That's because living in debt often is worsened by going further in debt to relieve your other debt. It is a nasty spiral, and it can't be sustained.

If you are living in more debt than you can pay, I invite you to contact my office for a free consultation to evaluate your options. 

If you owe more than $8,000 in credit card debt, you are not alone. According to this news report, the average American household owes more than $8,000 in credit card debt. The level of credit card debt is soon to exceed the credit card debt levels prior to the Great Recession. That's a lot. There are certainly benefits to credit cards. Covering unexpected costs, collecting credit card benefits and postponing expenses are a few of the many. But credit card relief is often needed.

But when credit card debt rises beyond the ability to afford, credit card debt can become a problem. It's becoming common again for the first time in nearly a decade. The rise in credit card debt coincides with the rise in credit levels in the country. Perhaps it is a sign of a strengthening economy. But too much credit is not always a positive sign. That's where credit card debt relief becomes a necessity.

When credit card debt becomes too much to handle, bankruptcy can be an option. If you have excessive credit card debt, there are few ways out from under. Paying them down or off is not a reality for most in credit card debt. Doing so requires money, which most in credit card debt no not have. That's why they are in credit card debt. But credit card debt can be eliminated in bankruptcy. Bankruptcy laws allow you to discharge, or eliminate, your credit card debt. Eligibility for bankruptcy is easier than most imagine. Doing so is a sure fix to credit card relief.

Whether in Sacramento or elsewhere, filing bankruptcy is a good option to eliminate credit card debt. The basic premise to bankruptcy is elimination of debt you cannot afford. This certainly includes credit card debt. If you are need of credit card relief, I invite you to contact my office to evaluate your options. 

 Rising credit card debt is a byproduct of the improved economy. According to a CBS News report, credit card debt has surpassed a trillion dollars nationwide. That's a lot. The more the economy grows, the more credit that becomes available. And with it, debt.

Credit is beneficial in generating a stronger economy. It allows business expansion, home ownership and personal spending, all of which further stretch the economy. There's no problem with this concept. But with rising debt, particularly rising credit card debt, problems can arise. If consumer income does not rise at the same pace as consumer debt, defaults can occur.

How to deal with rising credit card debt is becoming a nationwide issue. And the problem is growing. Sacramento credit card debt increases are on par with national numbers. What, then, to do?

Paying off credit card debt is an option. But only an option. Most, though, can't do it. They can't afford it. The cost of living is rising along with the economy. Food, clothing, transportation and other essentials expenses are on the rise. This leaves less money available to pay off credit card debt. Interest costs are going up, too. This makes credit card debt that much more expensive.

Bankruptcy is a way rising credit card debt can be stopped. Bankruptcy can eliminate all your credit card debt. It is not an option for everyone. But for those who cannot afford their credit card debt it is good option.

A sign consumers may benefit from bankruptcy is not just rising credit card debt, but an increased number of credit card accounts. This often leads to paying off credit card debt with other credit card debt. Robbing Peter to pay Paul is downward spiral. Filing bankruptcy can break this cycle. Contact me to consider your bankruptcy options.