The use of credit cards has become second-nature to many Americans. With people continuing to use plastic for major purchases they otherwise couldn't afford, credit card debt presents a real problem in West Virginia. One recent article explains how filing for bankruptcy can help a person to erase their credit card debt and thus regain their life.
According to the article, when an individual cannot manage their debt, they can suffer physically and emotionally. Sometimes, getting into debt is inevitable -- especially if a person is faced with an unexpected and financially harmful life event, such as a divorce or the loss of a job. In this situation, when people simply don't have enough money in the bank, they may be tempted to rely more on their credit cards, while planning to pay them off at a later date.
However, in some cases, the rainy day of life trials doesn't seem to end. Particularly if a person has lost a loved one or is facing an injury or illness, the credit card may be their only recourse. Filing bankruptcy under Chapter 13 allows people to create a schedule to repay back such debts, while under Chapter 7, a person's credit card debt can be completely wiped away.
It can be hard to break free from the grip of credit card debt. This is particularly true for someone who relied on their credit card to get them through tough times when they needed some type of emergency help. A person, however, can receive relief from credit card debt in West Virginia and start on a path to financial recovery and freedom through the legal avenue of bankruptcy filing. Many times, seeking this form of protection is the bets choice to responsibly confront debt that has simply become unmanageable.
Source: The Fresno Bee, Bankruptcy can provide Valley residents relief from crushing debt, Tim Sheehan, Sept. 6, 2013