Law Office of James L. Keenan

Help when you need it

Personal service since 1995

James Keenan Law

Contact me for a free consultation!

PH 916.448.6923

TXT 916.715.6145

EMAIL James now!

Contact me for a free consultation!

PH (916) 448-6923

TXT (916) 715-6145

EMAIL James now!

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Mounting Consumer Debt

Debt is on the rise. This recent Bloomberg article reflects the mounting consumer debt in America. Sacramento consumer debt is no different. The Bloomberg article portrays trends in consumer debt. It analyzes debts aside from mortgages, and the trend is clear. Consumer debt is up. It is up in Sacramento the same as it is in the rest of the country.

The alarming part of the story is that income is not keeping up with the mounting consumer debt. This debt is primarily credit card debt, personal loans and payday advances. They are high interest loans. If this trend continues, something has to give. Consumers, likely, will be left holding the bag. But how?

Mounting consumer debt does not pose a problem if income is up. But it is not. At least not to the degree debt is up. When income cannot keep pace with debt, defaults result.

Bankruptcy Relief

For those living with increased debt, bankruptcy can help. Bankruptcy is a legal process to eliminate debt. Credit card debt and personal loans are often the cause of filing bankruptcy. Payday loans only makes matters worse, and there are a lot of those loans out there. The common denominator to these consumer debts is interest. Interest rates on all these loans are high. If you can't afford the cost of these loans bankruptcy is an option.

Filing bankruptcy is detrimental to your credit, but your debt can be worse. With mounting consumer debt in Sacramento and elsewhere, bankruptcy affords financial relief. For most bankruptcy filers, bankruptcy actually improves their credit. Why? Because debt you cannot afford is worse on your credit than a bankruptcy filing, and it can only get worse over time. Bankruptcy discharges, or eliminates, debt your can't pay.

If you can personally vouch for mounting consumer debt,contact my office of a free bankruptcy consultation to evaluate your options. 

Bankruptcy Credit Repair
Debt Resolution

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Law Offices of James L. Keenan

2600 H St. Sacramento, CA 95816

Phone: 916-448-6923

Fax: 916-442-6524

Email: jameslkeenan@aol.com

Office Hours: Monday – Friday 8 a.m. – 5:30 p.m.

Evening Appointments Available

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Disclaimer: The legal information presented at this site should not be construed to be formal legal advice, nor the formation of a lawyer or attorney client relationship. Any results set forth herein are based upon the facts of that particular case and do not represent a promise or guarantee. Please contact James Keenan personally for a consultation on your particular matter. This web site is not intended to solicit clients for matters outside of the state of California.