If you are a business owner who has not been paid after providing a service or commodity to a customer, your cash flow may be suffering as a result, and you will want to gain back the money that you are owed. As a creditor, you have several options available to you.
Wipe out your debts before the new year
If you are battling the debt mountain tooth and nail, now might be a good time to try a different strategy. Filing for Chapter 7 bankruptcy now could bring you the relief from debt that you desperately need in time to begin 2020 debt-free.
How does universal default affect my credit card debt?
Those who have significant credit card debts can experience issues due to high-interest rates. Needing to pay interest on top of the initial debt can make it impossible for many people to gain control over their finances.
Strategies for tackling credit card debts
Credit cards can easily get people into overwhelming debt. This is because those with a reasonably good credit score can acquire multiple credit cards very easily. It can be so tempting to use credit cards to make purchases, even when you do not have to funds to pay the debt back at the end of the month. If the minimum payments are not made, interest can start to add up very quickly.
