Many people in California enjoy watching the on-goings of people who star on reality television shows. In fact, these types of shows are among the most popular being broadcast today on the airways. One of the most famous of those is 'America's Next Top Model'. Now, one of the former judges on the show, Janice Dickinson, has filed for a personal bankruptcy.
If you've incurred high credit card debt and/or substantial unpaid medical bills that current income cannot manage, it may be now appropriate to stop and evaluate what to do before collections, lawsuits and garnishments are initiated or escalated against you. In California and throughout the nation, a federal remedy called personal bankruptcy swiftly and effectively wipes the slate clean of a consumer's entire load of unsecured debt. When the total minimum payments on your credit cards is 50 percent or more if your monthly net income, it's unlikely that payment plans or credit relief programs will ever sufficiently remedy the problem.
California readers may be surprised to learn that the number of people who default on their student loans is rising. In fact, as many as 6.7 million people are more than 90 days late in their student loan payments. This is a full 17 percent of all people saddled with these loans. Many of these people may consider filing for a personal bankruptcy, particularly in view of the fact that there appears to be a move underfoot regarding the potential for discharge of student loans in bankruptcy. If they do, they will likely have questions regarding possible bankruptcy exemption and discharge options.
California readers may be surprised to hear that people in our state lost more than $135 million annually to payday loans. Much of this loss comes from the high interest rates charged to those in need of these types of loans. Many of those seeking payday loans here ultimately file for a personal bankruptcy due to the economic stress that led to the need for such loans and to the high interest charged.
Opening a donut shop, an art studio or a clothing store are just a few of the dreams that many people in California have. Many work hard to make these dreams come true, spending large amounts of money and time. For some these efforts pay off with long-term success. Others, however, are not as lucky and they find that they require a personal bankruptcy to help recover from the costs associated with starting a business.