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June 2019 Archives

A look at the primary reason for personal bankruptcy

Despite the fact that many people in Ohio have at least some form of savings account, unexpected circumstances can wreak havoc on anyone's finances regardless of their preparation ahead of time. For many people, saving money is important but can also be challenging if they have other things, they would rather spend their money on that is seen as an immediate need. However, this limited mentality can put people in dire circumstances if they are slammed with an unanticipated financial obligation. 

Bankruptcy and child support payments

Child support can be one of the most stressful and confusing facets of the divorce process. Some parents worry that their ex will not make payments on time or that the payments will not be enough. On the other hand, some people worry that they will face financial hardships due to the amount of child support that they have to pay. Moreover, both custodial and non-custodial parents may be facing financial challenges and decide to file for bankruptcy, which can add even more uncertainty to the situation.

How can bankruptcy save you?

The word “bankruptcy” has many negative connotations attached to it. But bankruptcy is actually a positive solution for many people suffering from debt and financial stress. There are many benefits of filing bankruptcy and the process can help in a variety of ways.

Filing for bankruptcy during a midlife crisis

Some people are in the middle of a midlife crisis, which can be a very tumultuous time in one's life. People may question the decisions they have made and feel unsatisfied with certain aspects of their lives. Midlife crises can bring on significant career changes, prompt people to move on from a relationship they have been in for many years or pick up new hobbies. People may also experience similar challenges during a quarter-life crisis. Fortunately, there are a variety of ways that people may be able to ease some of their anxiety and improve their outlook on life during these crises, such as getting rid of the debt that one has accumulated over the course of years.

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