It is perhaps apt imagery to refer to the slippery slope of debt when discussing the financial difficulties that over time ensnare many Americans and introduce material instability into their lives.
Although the details vary from case to case, it is not uncommon for debt problems to first emerge for individuals and families after an unexpected expense arises relating to an unforeseen circumstance.
Many people nodding in agreement with that above sentence might likely point to a troublesome catalyst in their lives, such as medical debt, which is a common precursor of financial difficulty and a leading cause of bankruptcy filings in Texas and throughout the United States.
For some people, it was job loss or a demotion at work that suddenly turned off the financial spigot and rendered timely payment on recurring bills problematic, if not impossible.
Myriad other factors, too, can contribute materially to that cited “slippery slope” and bring about weighty financial problems for debtors. For millions of Americans, student loan debt is a serious concern. Credit card exactions routinely plague consumers across the country.
Many people feel flatly helpless by their rising debt level and the sudden appearance — often strident, often aggressive and sometimes illegal — of creditors in their lives.
Although displaying apathy and hopelessness in the face of onerous bill amounts is understandable, such a response is not preordained or inevitable. Indebted consumers can act purposefully to shed unwanted debt, acting pursuant to a long-honored legal process for doing so.
That process is bankruptcy, which, candidly, is not well understood by many people.
Our firm practices bankruptcy law and proudly represents clients who need our assistance to gain a fresh financial start in their lives. Many people are empowered by a new perspective and resolve after they understand the bankruptcy rationale and process and note the positive results that filing for debt relief can bring in their lives.
We encourage persons interested in the bankruptcy process to learn more by visiting us online at our San Antonio, Texas, Bankruptcy page. We welcome your visit and any questions you might have.