It's always easier to spend money than it is to earn it. That's why everyone needs to keep track of their spending so that they do not spend more than they are earning in a given period of time. When a person gets into a significant amount of debt, it simply means that they have not been living within their means.
Getting control of credit card debt doesn't need to be difficult
Credit card debt can arise seemingly out of nowhere. If you have several credit cards and you rely on them regularly to purchase daily items, you may start spending more than you earn. If you do not keep track of your spending and don't pay back the minimum repayments on your credit cards within the given time frame, you may end up in a cycle where you need to pay back credit card fees that you cannot afford.
Can Chapter 7 bankruptcy help those with a shopping addiction?
Many people have problems with compulsive shopping. Casually termed as "retail therapy", it's common for light-hearted jokes to be made about those who love to shop and have more clothes than they can wear. However, those with a shopping addiction can find themselves in a dark place emotionally, especially when their compulsive shopping is negatively affecting their finances and their relationship.
Will I lose everything if I file for Chapter 7 bankruptcy?
Filing for Chapter 7 bankruptcy is potentially a great option for those with little to no income and a high amount of debt. While you may not have any assets in your bank account, you may have a significant amount of assets in the property that you own, from your house and car to your technology and jewelry.
