Why Bankruptcy Should Always Be an Option if You’re Struggling With Your Finances

The word bankruptcy is scary to a lot of people. Most people see it as a word that means bad things. It conjures up feelings of being helpless, living on the street, and having no money left to buy food and raise your children. To many people, bankruptcy is the lowest of the low and is something that we should avoid at all costs.


Fortunately, that’s really not the case.


Bankruptcy is an option to help you get rid of your debts whenever you’re in financial trouble. Perhaps you’ve recently had to spend a lot of your savings on emergency expenses, maybe your medical bills are taking a toll on your finances, or you could have even lost your job and are now struggling to make ends meet.


Whatever your circumstances are, bankruptcy shouldn’t be a taboo that you avoid. In fact, it should be a viable option much like any other debt solution. So in this post, we’re going to talk about bankruptcy, explain what it is, and also offer some reasons for why you might want to consider it if you’re in a financial jam.

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Is bankruptcy a common thing?


One of the reasons why people think that bankruptcy should be avoided is because they don’t understand how common it really is. Sure, nobody should be aiming for bankruptcy and it should technically be avoided at all costs. However, debt is extremely common and it’s important to look for ways to overcome your financial troubles.


If you look at bankruptcy stats, you’ll see that there are hundreds of thousands of people claiming bankruptcy every year. In 2019 alone, there were around 774,940 cases of bankruptcy filings with around 97% of them coming from individuals. It should also come as no surprise to learn that these bankruptcies were filed by people that aren’t in a great financial situation. They often have low income and they’re usually struggling with basic necessities. Nobody wants to be in this situation, hence why bankruptcy can be seen as a ticket out of that lifestyle to help you restore your financial health.


Why do people go bankrupt in the first place?


So what actually causes people to go bankrupt in the first place?


  • Losing income is perhaps one of the most common reasons why people go bankrupt in the first place. If you’re suddenly demoted or lose a source of income, then it’ll negatively affect your financial situation. You might be unable to make mortgage payments on time or you might struggle to pay back existing debts.


  • Outstanding medical conditions is another common reason for going bankrupt. If you have to undergo many different medical procedures and also spend money on assistive technologies such as a wheelchair, then it’s going to quickly add up in terms of cost.


  • Credit card debts are another common reason for why people go bankrupt. They often don’t realize how high-interest fees are. This can result in a lot of overspending and it’s important to cut down so that you stay within your financial constraints.


You’ll find that people panic about their finances once the option of bankruptcy becomes a little more realistic for them. Thankfully, bankruptcy isn’t the only option but does still remain as one of the most effective choices.


What are the alternatives to bankruptcy?


Here are a few alternatives to bankruptcy that you might want to consider.

  • Finding other ways to pay off your debts. There could be many ways for you to pay off your debts. For instance, you could try and save a little bit more money from your paycheck each month so you can make higher than minimum payments. Alternatively, you could sell off some of your belongings to make a bit of extra money. You might also be able to take up a second job or work more hours to pay off your debts faster. A lot of these options sound obvious, but they’re undoubtedly effective ways to help you pay off your debts sooner.


  • Negotiate with lenders. You may be entitled to various debt settlement options to help you effectively erase some of your debt. This option isn’t available to everyone but can be a fantastic way to ease your debts if they’re low enough or if you can show that you’re unable to pay the lender back.

  • Consolidate your debts. Some banks and lenders might offer you the chance of consolidating your debts. This essentially means taking out a large loan to pay off every debt and then only having a single entity to repay it to. This usually results in lower interest rates and can be an effective way to reduce your debts,

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Reasons why you might want to consider filing for bankruptcy


So what are some of the most common reasons why you might want to file for bankruptcy?

  • You’re chaining credit cards into each other. If you use one credit card to pay for another, then you’re probably in a really bad spot in terms of money. Make sure you try and avoid chaining credit cards into each other because it’s going to spiral out of control really quickly.


  • Your debts are affecting your personal life. Did you know that the effects of debt can also include stress and other similar mental conditions? It’s extremely important that you deal with debt as soon as you can so you can return to a comfortable lifestyle where you’re not stressing out over your debts.

  • Your interest rates are going up. If you’ve taken out a number of loans in the past then there’s a good chance that your interest rates have increased over the years. If this is the case, then you may want to consider filing for bankruptcy soon or using a method to clear your debts so you can avoid paying higher interest rates.

  • You’re already working multiple jobs. It’s easy to say “just earn money” if you want to get rid of your debt. However, if you’re already working multiple jobs and are feeling the stress get to you, then bankruptcy may be the best option.


  • Your wages are being garnished. The term wage garnishment refers to your employer taking money from your paycheck in order to satisfy a lender’s conditions. If you owe someone money, they might try to speak with your employer to get them to pay up on your behalf. However, this results in you getting less money with each paycheck.

  • The alternatives haven’t helped. If you’ve tried alternatives to debt management and they don’t work, then we’d suggest considering bankruptcy so you can wipe out the majority of your debts in a single blow.

  • You’re using credit to pay for daily necessities. If you’ve reached a point where you rely on credit to pay for every essentials it’s time to consider debt solutions to ensure you stay healthy and boost your wellbeing. Debt is troubling to deal with, but it should never result in you having trouble with putting food on the table.

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Getting started with a bankruptcy claim


So how exactly do you get started with a bankruptcy claim? If you’ve read through this article and done a bit of research on the implications of a bankruptcy claim, then you might want to consider contacting Leinart Law Firm or a similar bankruptcy expert for more advice. They’ll help you analyze your situation so that you can get a better understanding of the options available to you for dealing with your debts.


In some cases, you’ll be recommended alternate options to help you deal with your debts. However, if bankruptcy does seem like the only viable option to help you get out of debt, then they’ll likely proceed with the process.


Bankruptcy isn’t a pass to drop your financial responsibilities


It’s worth mentioning that filing for bankruptcy doesn’t free you from your financial responsibilities. You’re still going to need to save money, you might still need to repay your lenders a smaller amount of money, and you’ll need to develop excellent money management skills to ensure you never fall into debt again.


It’s worth remembering that bankruptcy doesn’t actually cover all loans. For instance, it can’t help you with student loans, so you’re still going to need to pay that back yourself.


What comes after bankruptcy?


So what comes after bankruptcy? Now that you’re free to spend your money and have a large weight off your shoulders, you can start learning to budget your finances so you never end up in debt again. Using preventative measures will help you stay clear of debt in the future. But that’s just the start of your new life with financial freedom. There are many other things to do, such as learning to save money and finding ways to cut down on unnecessary expenses.


In other words, look for ways to secure your financial freedom in the future so you never have to think about bankruptcy or debt again.

Recuperating After Experiencing a Financial Disaster

Have you been facing financial disasters one after another? Perhaps you’ve recently had to pay for an expensive necessity such as medical bills, or maybe you’ve lost your job and are struggling to make ends meet. Whatever the situation is, recuperating from these financial issues can be incredibly challenging.

So to give you a hand, we’re going to offer some tips to help you manage your budget and get back on track as soon as possible.

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Dig into your side hustles


If you have any side hustles, now would be a great time to push them even harder. For instance, if you run a side business selling a product, try and get some free advertising on social media or push for some discounts to help get the ball rolling. Side hustles are essential for building a financial safety net should you lose your job. If you’re facing cash flow issues, then it’s a great idea to use your side hustles as a temporary source of income.


Look for debt management help


Don’t be afraid to seek debt management help if you’re struggling to make ends meet. DTSS is one of the number one debt management companies in the country that can help you seek debt discharge and financial freedom. Speaking to experts will enlighten you and help you find the best solution for your financial problems. We highly suggest speaking to an expert if you’re unsure how to proceed or if you’re really struggling with your finances. A lot of financial advice can be had for free as well, making it a great resource to help you learn more about your finances.


Start watching your incoming and outgoing money


If you want to be more careful with your money, it’s crucial that you start thinking about your budget. Take note of how much money you make each week or month and compare it to how much you spend. Don’t hide any expenses because it won’t give you an accurate view of how much money you can realistically spend. This will prevent you from living a life that you can’t afford.


Understanding your financial struggles


Everyone in the world will have money troubles at some point in their life. How you react to those problems and examine them will separate you from other people. For instance, are you struggling with money because you’re spending too much on certain things? Are you buying too many entertainment-related things on a weekly basis? Facing your money-related issues involves digging into your own habits to understand your financial struggles. If you’re having trouble 


Keeping your chin up despite the stress


It’s incredibly important that you try to stay positive during this time. Financial disaster can easily start to affect us mentally and will create a lot of stress. This can cause things to spiral out of control, such as being reckless with your money or relying on underhanded methods to make money. If you need help, it may be wise to consult friends, family members and experts to help you with the stress.

Stop Snoozing – Land Your Dream Job By Avoiding These Common Fails

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What is a dream job? It’s what the name suggests! You wake up every day, you enjoy the fact that you need to get out of bed, and you skip off to a workspace that challenges you and encourages you to be better.


Only 22% of Americans believe that they have landed the role of their dreams, which means that 78% of people are working a nine-to-five that they don’t enjoy. Ouch! You might fall into this category, but that’s because you’re snoozing and haven’t woken up yet.


If you plan on being a member of the one-in-five-club, you should start by swerving these pitfalls.


Not Figuring It Out


As silly as it sounds, lots of people don’t know what their dream job is, which is one reason why so many Americans settle for unsuitable positions. Most people don’t take the time to sit down and analyze what they want to do and why. Therefore, it’s vital that you set aside a few hours to plan what role would make you happy. Once you get that fuzzy feeling inside, it’s about coming up with actionable short, medium, and long-term goals. For example, your first target might be to enroll in school and gain a qualification.


Letting Money Stop You


Money makes the world spin. If you haven’t got it, it can feel as if God has not only shut the doors and windows, but He’s installed deadbolts to make them impenetrable. However, not having the funds to fund a new journey in your life is an excuse. Whether your dream is to be an astronomer or beauty expert, financial aid & scholarships are available for cosmetology school and Nasa programs. Seriously. Support might seem like a long shot, but what have you got to lose? Any small amount of funding could get your foot on the corporate ladder.


Believing In Quick Results


There’s no such thing in the world as an overnight success. It’s a myth that people believe in because they don’t want to do the hard work it takes to reach the top of the tree. Jeff Bezos, Mark Zuckerberg, Bill Gates all have one thing in common – they never stop innovating. You might not want to work 150 hour weeks without seeing your family, yet you must make some sacrifices. Quick results are misleading since the sample size isn’t big enough to help you spot a pattern, so you’ve got to work continuously to ensure you’re doing it right.


Being Modest


In social circles, modesty is welcome as everybody prefers mixing with people who aren’t arrogant or obnoxious. The latter aren’t attractive qualities in any situation; however, the desire to fit in might convince you that you need to be overly modest. Modesty is cute, but it prevents you from understanding your strengths and overplaying your weaknesses. To land your dream job, you have to be confident and assured, not meek. You don’t have to be a cowboy salesperson, yet you should be able to make an eye-catching pitch in seconds.


Have you landed your dream job, or are you on the way?

Writing A Will – What You Need To Know



Will solicitors are a must if your financial situation and estate are anything except very simple. Even then, other issues such as a complex family structure or arguing siblings mean that a solicitor being involved in writing your Will is a good idea. For a small fee, your solicitor will guide you through the process and deal with other issues such as whether you need a lasting power of attorney. Having the right support now at a reasonable fee could save you a great deal of money and stress in the long term.


No one likes to think about getting old, or dying, but they are fated to happen to everyone eventually. Being prepared and knowing that plans are in place for your later years and your family after you pass can take a great weight off your mind. 


Solicitors can help with both aspects, and it is worth taking the time to plan with them what legal paperwork needs to be in place for you to ensure your well being and financial needs are covered should you lose the capacity to do this yourself. 


Making a Will with a solicitor does involve costs, and the cost of writing a Will with a solicitor depends on several aspects. If you are writing a Will for just you, the fee will be different from that of a Will for a couple. Fees will also differ depending on the complexity of your estate and your tax situation. The need for trusts, dealing with overseas properties and tax advice, all add to the overall cost of your Will. As well as dealing with the complexities of your Will, working with a solicitor gives you the confidence to know that no mistakes have been made, as probate law can be complex. 


The simplest of mistakes could mean that your Will is invalid on your death. This can lead to your intended recipients missing out on inheritance, and can even lead to family members falling out. In the same vein, using a solicitor means that your Will is stored safely. The solicitor will keep the original, usually in a fireproof safe, while you can take a copy away to show those that need to see it. 


Although a solicitor is essential to ensuring your Will is correct and cannot be challenged, it is important that you do your part. You are the one that must decide who is going to get what after your death. This covers everything from your property and money to any specific items from your possessions. A good place to start this process is by listing all the people that you want to benefit from your estate. Your beneficiaries could include, your partner, children, siblings, and other family members. It may also include friends and charities. 


Next, you need to be able to provide your local solicitors for making a Will with a list of your assets and their worth. Your assets include any savings and valuable objects including jewelry, heirlooms, and antiques. Then you need to consider the more complex items such as property, stock market investments, your pension, and if you have one your business. 


Lastly, there are items that have little or no financial value, but that have sentimental value to individuals. The wording of your Will is one aspect that your Will writing solicitors can ensure is correct. This is particularly important where you need to consider the needs of a partner that may outlive you, and then the needs of any children or grandchildren.

How To Avoid Money Worries After An Injury

A serious injury can change your life in a big way, especially if you are unable to work. It can have a big impact on your mental well being if you struggle to do things that you would normally take for granted. People often lose their sense of purpose when they are out of work as well, and that can lead to mental health issues. After a serious injury like this, it’s important that you focus on your recovery and get back to normal as soon as possible, and you take steps to manage your mental health along the way. But that is hard to do if you don’t manage your finances properly as well. 

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When you are suddenly unable to work, it can put a real strain on your finances and that causes a lot of stress. If you don’t have a clue how you’re going to pay any of your bills and you are constantly worried about money, that will make your recovery a lot more difficult and increase the likelihood of developing a mental health problem. 


If you are out of work for a long time, you may end up relying on credit cards to pay your bills and that will lead to a lot of unnecessary stress. But if you follow these simple tips, you can easily avoid that situation.   


Make A Compensation Claim 


If you think that somebody else was to blame for your injury, especially if you were injured at work, you should consider making a compensation claim. If you get in touch with somebody like alex hernandez lawyer and speak with them about your situation, they will be able to help you make your claim. It’s important that you do this right away because the more evidence you can gather, the more likely you will be to win a settlement. The process can take a long time, so the sooner you get started, the sooner you will benefit from the money. Having that extra financial help there will make life a lot easier for you while you recover from your injury and get back to normal. 


Keep Working If Possible 

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In some cases, your injury will be too severe for you to work at all and you will have to take time off until you are fully recovered. However, you may still be able to work in some capacity and that will make it easier to manage your finances. For example, you might not be able to do any heavy lifting but that doesn’t mean you can’t do admin work. You should speak with your employer and see whether you can continue working in some capacity. It’s easier than ever for people to work remotely, so you may be able to work from home instead of going into the office. 


If there is no way that you can continue working at your current job, you should look into your other options for working. There are a lot of freelance jobs that you can do from home like being a virtual assistant, for example. If you can find ways to earn a bit of extra income from home, you will find it a lot easier to manage your money while you recover. 


Cut Back Your Budget 


If you are not earning or you are only earning a fraction of what you normally would, you need to rethink your budget. If you continue spending at the same rate as normal, you will soon find yourself in financial difficulty. You need to cut back on your budget and get rid of some of the luxuries that you can’t afford right now. Draw up a list of all of your spending and look for things that you can easily cut out. The more you can cut down on your budget, the longer you will be able to survive without borrowing money. 


Speak With A Financial Advisor 

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If you do manage to win a settlement, it’s a good idea to speak with a financial advisor because they will help you to get the most out of it. If you just put it in the bank and start spending it, you’ll be surprised how quickly it disappears. If your injury is going to have a long term impact, you need to start thinking ahead with your money. A financial adviser will be able to assess your finances with you and give you some good advice on how best to spend the money that you do have. They will be able to help you with investments if you have a lump sum so you can secure your finances in the long term. 


Borrow Sensibly 


It’s easy to fall into the trap of borrowing money when you are out of work, but you need to be very careful. If you start relying on credit cards too much, your financial situation will get worse and worse. However, there will be some situations where you need to borrow a little bit of money to make ends meet. That’s fine, as long as you do it sensibly and you don’t make a habit of it. You should only be borrowing money to pay urgent bills, not to spend on luxuries. When you do use a credit card, make sure to shop around and get the best deals, and avoid high interest payday loans at all costs. If you do find yourself in a situation where you need to borrow money, you need to work out how you are going to pay it back. If you won’t be able to comfortably pay back the debt, you should think twice about borrowing. 


Once you have recovered from your injury and you are back at work, paying off your debts should be your first priority. The best way to do that is by using the debt snowball method. By prioritizing the smallest debt and clearing it as soon as possible, you free up more money to put towards the next debt on the list, and so on. The sooner you can clear all of your debts and get back to normal, the better. 


As long as you follow these simple rules, you can stay on top of your finances and focus all of your attention on making a recovery.

How To Stop Workplace Wrongdoings Halting Your Career

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The workplace is one of the last places where you expect to fall victim to wrongdoings. However, the harsh reality is that you spend upwards of 40 hours of each week on-site, in the office, or in the field. Naturally, then, millions of employees and contracts are hit by problems in the work arena every single year. 


Wrongdoing can include injuries gained due to negligence. Or it may come from identity theft, and wrongful sackings. When those situations occur, it can be tempting to wave the white flag. However, you needn’t let it define you. Here’s why: 


Financial Compensation Lets You Focus On Getting Back On Track  


Any employee or contractor that has suffered an injury will know that it can be very hard to resume your progress. One of the main reasons for this is due to the financial fallout that a temporary loss of earnings can bring.  


Fighting for your financial justice is essential, because it buys back a little freedom. You already face enough challenges during rehab from an injury, and mustn’t allow financial elements to make the situation worse. This can extend to the issues that follow the injury too, including medical negligence from professional teams. Either way, you should be the last person made to suffer.  


Financial security through this difficult phase of your life allows you to focus on the recovery. You can also focus on the next steps needed to resume or progress the career. 


Broken Reputations Can Be Fixed 


Wrongdoings can be as simple as taking the blame for something that wasn’t your fault. It doesn’t matter whether your reputation within the company or the wider industry has been incorrectly damaged. You can repair the situation. 


When something is posted online, you can defend yourself with comments. Alternatively, you can ask for a press release or internal company notification. Likewise, slander can be fought in courts or through seeking a retracted statement. Whatever happens, you can forgive yourself, and others can too. Setting the record straight is essential and will allow you to keep your career on the intended trajectory. 


Hearing negative things about yourself is never easy, but you needn’t take it to heart. Just be sure to seek the corrections needed to clear your name with clients and future employers. 


Your Current Employer Isn’t The Only Option 


There are many situations that may make you want to quit the company. Perhaps your employer hasn’t taken your complaints about workplace bullying seriously. Or maybe you aren’t impressed with the way that your boss treats you. 


It could be something as simple as not getting the pay rise you deserve. Either way, there are plenty of other companies on the market looking for talented and driven candidates. So, if settling the issues at your current place of work isn’t viable, look elsewhere. Invest in building a better resume and application. There are opportunities out there, but you need to chase them.  


Finally, you could always consider the prospect of going self-employed or starting a small business. Either way, there is no need to feel trapped.

How You Can Get Through A Wonderful Holiday On A Budget



When you think about heading on vacation to a gorgeous destination, your mind immediately rushes to the idea of staying at a luxurious area and sipping cocktails in the sun. Now, for most of us, that is literally the definition of paradise. Not all of us get to go through with that kind of bliss, however. The majority, it will be, for the most part, a distant fantasy in our imaginations. 


That’s not a completely heart-breaking thing, though. Vacations are only as good as you make them. You could stay in a five-star hotel with the sun beaming down on you; it doesn’t mean you’re going to have a good time! You will probably enjoy it, but if you’re minds not in the right place, then the vacation won’t rank in your list of all-time greats. Likewise, you can head to a sub-standard spot with pretty average weather and have the greatest week of your life. 


Are you heading out on a pretty low-budget vacation soon due to your financial situation? Good for you. Getting away from your usual, mundane nine-to-five, and experiencing new things is what this life is all about – no matter how emphatic the trip might seem. If you’re thinking it’s going to be an anti-climax or a let-down, then don’t panic. It’s probably all in your head. Here’s how you can get through a holiday on a budget while enjoying each and every moment: 


Eating Out Isn’t Necessary!


Going on vacation traditionally means scanning the area every evening and choosing the best restaurant to eat at. This can take quite the hit on your bank account. Now, obviously it’s nice to eat somewhere else and not cook for yourself, but preparing your own meals isn’t the worst thing in the world. You are on vacation, after all, so you can make pretty much whatever you want – you’re allowed! 


Limit Your Ability To Splash Out


When you have the money available, it can become very easy to spend it – the temptation can get the better of a lot of people. This becomes especially more of a temptation when you’re on vacation and when you’re in a better mood. You feel as though you’re away from your ‘normal’ life; so you can act a little differently. It happens all of the time! Perhaps you should load a limited amount of money onto a prepaid account so that you have those funds and those funds only to play with. If that sounds like a good idea, then you can go online and look at things like Green Dot Prepaid Card reviews, as well as many other options. Leaving a debit card at home and using a limited about would be a great idea if you’re worried about throwing money away and tainting your vacation somewhat!


Value The Experience More

The whole point of doing the vacation in the first place is to enjoy the moments it gives you. We’re a material bunch, whether we like it or not, and we’ve been taught to enjoy the amazing, luxurious aspects of life. We don’t need them, however. The world naturally gives us great moments. Just enjoy the area you visit for what it is!

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