Some California consumers who are experiencing financial difficulties procrastinate filing for bankruptcy because they feel embarrassed and even unworthy for being in such a situation. What they may not realize is that millions of others have had similar problems and regained financial stability by taking the important step to file for personal bankruptcy. However, there are certain things a consumer must know in preparing for this important opportunity.
Consumers in California who are exploring ways in which to resolve debt issues may consider applying for a personal loan. There are some advantages to using a personal loan to settle unmanageable debt. Such a loan can be used to pay credit card debt or to refinance existing loans. Before applying for a personal loan, it makes good sense to research the best interest rate available, because that is what makes a personal loan a better choice than a credit card.
California residents who are overwhelmed with debt are often eager to find a way back to financial stability. Debt reorganization offers can seem like good options toward reaching that goal. That said, there are a great many scams aimed at consumers who are looking to restructure their debt. Consumers must be aware of those scams and seek a debt relief option that will actually serve their needs, rather than make the situation worse.
A great deal of the statistics that are released concerning money matters are the result of research that is conducted using participant surveys. As with any piece of research, the results are only as good as the data that is collected. One recent study suggests that many people will provide inaccurate information when asked about their debt status. This means that much of what is commonly known about unmanageable debt could be completely false, which will be of interest to many California residents.
Many California readers are aware that rapper 50 Cent has filed for bankruptcy. Many are also aware that even as the musician/actor has sought bankruptcy relief, he has also made quite a show of promoting his expensive lifestyle and personal wealth. Recently released Instagram photos have caught the attention of the judge that is handling his personal bankruptcy case, and 50 Cent has been ordered to come before the court and discuss his financial situation.