Bankruptcy Can Reduce Pain of Rising Prices
The sweltering days of summer have been replaced by the crisp days of autumn. Unfortunately, the gas prices of summer seem to be here to stay.
Prices at the pump have jumped more than 20 cents in the last two weeks. And experts are worried it could cause consumers to tighten their wallets this holiday season. Not that a few extra bucks at the gas station is going to wreck a budget, mind you, but with most of us already struggling with a mortgage, credit card bills, taxes, medical bills, student loans, etc. sometimes it's the little things that send us over the edge.
If times are tight, maybe you already expect to cut back on holiday expenditures this year. And creating - and sticking to - a budget rather than spending willy-nilly is one of the most important steps to financial freedom because it keeps you from spending more than you earn (and thus relying on those evil creditors). But you shouldn't have to give up all your fun.
In fact, that's the fast track to failure, just as restricting your calories and eating boring foods will eventually cause even the most dedicated dieter to go on a binge. There's a wiser way to offset outrageous gas prices - and bills, loans and other obligations. You need to start keeping more money, not just saving it. And for most of us, that means reducing our non-mortgage debts like credit card debt. Why give credit card companies your hard-earned dollars for the rest of your life? With the right bankruptcy plan, you can eliminate your debt - and therefore, the amount you're paying in interest - while also gaining legal protection against foreclosure or repossession.
It's easy to get stressed over rising gas prices. But just like the cost of a stamp or milk, they will always go up - it's just a fact of life. So stop wasting your time worrying about the stuff you can't control and start working on the stuff you can change - like your own personal finances. Bankruptcy can help you do it.
You don't have to be an expert, either. When you sign up for our free one-on-one debt analysis, one of our professional Chicago bankruptcy attorneys can identify a bankruptcy plan that best matches your individual situation. So you can stop sweating the small stuff (gas prices) and the big stuff (your house payment) and get on with your life.