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Bankruptcy Help For Everyday People

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Bankruptcy Help For Everyday People

February 2020 Archives

Qualifying for Chapter 7 bankruptcy

Many North Carolina consumers are struggling with their financial obligations, and there are several reasons why this might be so. People can be burdened with extensive credit card debt or medical bills, and the situation can be exacerbated by an unexpected job loss. When other methods of debt relief have failed or are unavailable, some people might consider filing for bankruptcy under Chapter 7. However, not everyone is eligible to do so.

Why Chapter 7 is often a better choice than debt consolidation

It's common to notice advertisements for products or services when you need them and to tune them out the rest of the time. If you've been struggling with your finances, you may have noticed that there seems to be a lot of debt consolidation and debt relief programs that advertise both on the television and the radio.

Young adults not shying away from credit cards

According to TransUnion, roughly half of Americans between the ages of 18 and 24 have a credit score of at least 661. Therefore, lenders in South Carolina and throughout the country have made it a priority to connect with younger borrowers. Previous data has shown that a 24-year-old has an average of $2,000 in credit card debt. Furthermore, 41% of individuals between the ages of 18 and 24 have at least one credit card.

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