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Bankruptcy can be complex but beneficial

For a while -- maybe even a long while -- you had financial stability and did not imagine that you would one day be exploring debt relief methods. However, a number of sudden life changes can result in your finances taking a hard hit that can quickly lead to overwhelming debt. In many cases, the changes that result in financial difficulties result from no fault of your own, such as facing a medical emergency or losing a job.

Too many people think that money problems come from irresponsibility, and too many people think that bankruptcy is not the answer to address debt issues. Both of these notions are incorrect because, as mentioned, irresponsible spending is not the only precursor to debt problems, and bankruptcy actually has many benefits. If you are considering bankruptcy, you may want to keep certain information in mind.

Are sharing a Louisiana road with a distracted driver?

Like most roadways in Louisiana and throughout the nation, your typical routes of travel may be traffic-laden and quite dangerous at times. However, potential hazards are not always immediately apparent. For instance, how are you to know that the driver in a vehicle nearby is daydreaming about the date he had the night before rather than focusing on driving his car? Being lost in thought is one of the most frequently reported driving distractions.  

You may be alert and cautious behind the wheel. That doesn't necessarily mean you'll be able to react quickly and safely enough if a distracted driver crosses your path. Distracted drivers cause thousands of people injuries in motor vehicle collisions every year. In worst cases, such incidents result in fatalities. If you know how to recognize signs of possible distracted driving, you may be able to avoid disaster. If, by chance, a distracted driver hits you and you suffer injury, it's also good to know where to seek support.  

Reckless spending not always the reason for major debt problems

Like many other Louisiana residents, you have likely gone through times in life where you fell into the habit of spending more money that you earned. Out of control spending habits is definitely one causal factor that often leads to serious debt. However, it's certainly not the only reason your financial train may be thrown off its tracks; in fact, it may not even be one of the most common reasons people in America cite as to why they suffered a financial crisis at one time or another.  

Most financial problems are resolvable. It often depends on how much you know about debt relief options and what type of support is available to you to help you pay back debt and rebuild a strong financial foundation. To avoid similar crises in the future, it might help to review some of the issues related to high debt rates in the U.S. 

Protecting yourself against the impact of wage garnishment

Louisiana readers know that the impact of debt can reach into many areas of life. When you are behind on your payments and have no hope of catching up on your own, it is more than just an inconvenience. It can lead to stress and confusion as creditors start calling, you receive notice of collections and more. One of the things you may have to deal with is wage garnishment.

Wage garnishment is the process of withholding a certain amount of your income for the purpose of repaying debt. Not only can this feel invasive, it can put an even greater financial strain on your family. If you received notice of wage garnishment, you may find it beneficial to learn how filing for bankruptcy can make it stop.

Why would you choose Chapter 13 bankruptcy over Chapter 7?

Louisiana readers know there are many challenges that come with facing overwhelming debt. From the constant phone calls from creditors to dealing with the threat of foreclosure on your home, you know that you need a way out, and that could come in the form of consumer bankruptcy. If you have made the decision to seek relief by filing for bankruptcy, you will then have to decide if Chapter 7 or Chapter 13 is the best choice for you.

While Chapter 7 bankruptcy is a popular choice, Chapter 13 bankruptcy may offer you more benefits. It takes a period of three to five years to complete, but it could be the right way for you to effectively deal with your debt and move on to a stronger financial future.

Taking measures to increase your safety as a pedestrian

Every motor vehicle accident has the potential to end in disaster, perhaps especially those that involve pedestrians. With a significant reduction in protection among other modes of travel, if you choose to travel via the sidewalk, you might have some concerns about your safety.

With increases in safety measures, such as marked crosswalks and walk signals at traffic lights, you might feel as though the odds of an accident may be relatively low. However, all it takes is one negligent act or decision on the part of a driver to seriously endanger the health of a pedestrian, and traffic laws may unfortunately do little to stop this from happening.

Method to check for Chapter 7 eligibility

Before people in Louisiana or elsewhere can pursue bankruptcy filings, they have to know for which type they qualify. There a big difference between the two bankruptcy options used for personal debt relief. With Chapter 13, one still has to repay creditors. A Chapter 7, however, can completely clear certain debts. No court is going to allow you to have your debts discharged if you really do have the income to pay back creditors.

Consumers commonly use Chapter 7 bankruptcy when they truly lack the funds to pay back creditors, but it is not available to everyone. There is a method you can use to find out if you are eligible for this debt relief option. It is a simple test called a means test.

Are you a biker? Protect yourself and your interests.

Motorcycles are a popular mode of transportation in New Orleans. Those who enjoy the freedom of the open road and the fuel efficiency that these vehicles have to offer may also face a higher risk of being involved in an accident. Motorcycle crashes often cause serious injuries, even death, but there are steps that you can take to shield yourself from unnecessary harm.

Chapter 7 bankruptcy may provide almost instant debt relief

Life often has unexpected twists and turns, and they are not always for the better. If job loss, divorce or illness caused you financial instability, you might have resorted to the use of credit cards to keep up with day-to-day costs of living. These situations have a way of pulling one deeper into a spiral of debt. Fortunately, Chapter 7 bankruptcy offers a fresh financial start.

Although you may want to consider other debt relief options, you may find that Chapter 7 bankruptcy is the quickest way to get rid of most debts while receiving protection against debt collectors. However, you may have to sacrifice some nonexempt property that will be sold at auction to pay your creditors. In exchange, the bankruptcy court will discharge unsecured debts, such as credit card debt and medical debt.