It's at the point where you don't even want to open the mailbox anymore. If it's not jammed with new bills, it's filled with collection notices and letters threatening repossession, eviction and other serious consequences. You know you need to do something to stop the spiraling debt, and you've heard that bankruptcy can provide relief, but does it actually erase all your debts?
If you are overwhelmed by debt, you may be wondering if there's any way to stop your creditors from calling. Can you get real financial relief? Do you have any valid options?
You earn a decent income. You own assets of value. Despite having outstanding loans, you have significant equity in those assets. The problem is that your company has not paid bonuses the last couple of years, you just returned to work due to a serious accident or maybe your wife is battling a serious illness.
Hope for the best. Plan for the worst. It is why we buy insurance. Car insurance helps you repair your vehicle after a crash. Home insurance helps you replace your roof after a hailstorm. Health insurance helps you cover the costs of expensive medical care, but is any of it enough?