Talking about making final preparations with your loved ones can be a difficult conversation on both ends. Your family may be apprehensive about the realization of your mortality and you may even have a hard time with the idea. If 2016 is any indication, death comes to us all-eventually-and it is non-discriminate. Sometimes we lose loved ones for unknown reasons, in a tragic accident or far too early. That's why it's important to be prepared.
No one plans to let debt overwhelm them. Most of us have every intention of paying our creditors. But sometimes life intervenes. It may be a lost job or a demotion that has you struggling to make payments. Or it could have been a medical emergency you had no way of foreseeing. Regardless of the reasons, if you find yourself getting calls and letters from creditors and you see no way out, you may be considering filing for Chapter 13 bankruptcy.
When you buy a house, whether it's a starter home or your dream house, you do it with the intention of making all your payments, but sometimes life intervenes. Perhaps you lost a job or suffered the passing of a loved one who was the breadwinner of the household. However it happened, you find yourself behind on payments and stressed about the prospect of the bank foreclosing on your home.
There's a lot of misinformation out there, these days. Unfortunately for those dealing with unmanageable debt, there are those who are more than willing to pass untruths around. After all, creditors want you to believe that bankruptcy should only be the last resort of irresponsible people, which brings us to:
A lot of people put off bankruptcy, even when they really need it. By the time they talk to a bankruptcy lawyer, they’ve tried everything they can think of to get those creditors off their back. Borrowing from friends and family is common … or “borrowing from Peter to pay Paul,” as they say -- holding off one creditor while others get in line.