In the past few years, many Americans have fallen into a heavy debt burden. Most people want to avoid filing a bankruptcy at all costs, so they only have to pay a minimum fee and then they can knock down the can. At some point in time, it is inevitable that bankruptcy applications are just around the corner. Why do people have to wait for such a long time to file a lawsuit, and when they are in trouble, they know that they have no choice? But now, in addition to the immediate bankruptcy of the US government, there are other options. These people have brought us affordable health care, the IRS, the US Postal Service, huge debts and a deficit that cannot be rid of. Last week, the federal government was announced to use the post office to issue payday loans. Now, you don't have to go to the local loan shark's payday office, just go to the local post office and sign your life. If you ask me, it is totally crazy. Everything the government encounters will ultimately benefit a small number of people who deserve it, and the United States Main St. will suffer a lot. The organization behind this idea believes that post offices that are in financial difficulties will be able to get out of trouble by engaging in usury operations.
In American culture, planning has become an important part of our lives. You will see on TV that financial planners are talking about using 401[k] or IRA to prepare for the future. There is nothing wrong with the plan, but when you are heavily in debt, the only financial plan a person should consider is to file for bankruptcy instead of getting a payday loan. Since the government is planning to make people more likely to fall into debt rather than get out of debt, you can abandon all financial plans. Most Americans are optimistic and always look for short-term solutions rather than solutions that make them painful and spending habits. This is another reason for the popularity of payday loans because they provide an immediate solution and allow individuals to drag the cans for another week. Sadly, these 300% of the loans ended up costing only the individual's entire salary, just to pay interest at some point. At that time, the man was almost bankrupt and even filed for bankruptcy. The good news is that payday loans can be lifted at the time of bankruptcy, so debtors can get rid of them when necessary. At least until now. It's no surprise that I saw the government change the payday loan rules to something similar to student loans, which happens when I almost can't go bankrupt.
When someone is overwhelmed by unsustainable debt, they should discuss other debt solutions with the bankruptcy lawyer instead of looking for a financial advisor to see what they can do. Applying Chapter 7 for bankruptcy protection will eliminate all unsecured debt, including payday loans, and will leave many people with little debt. Considering that the results only take 4 to 6 months, this is a very powerful financial plan. There are no other programs in the world that can provide this result. These results are costly, because most people know that this will deal a heavy blow to a person's credit. If you think about alternatives and already know a person from
File for bankruptcy from
Anyway, there may not be a good reputation, it looks much better. Before making any decisions, you should add up all of their bills and figure out how long it will take to pay off if they stop charging today. If it takes more than five years, this person should seriously consider the possibility of a bankruptcy application coming soon.