A mortgage is one of the largest debts you'll have in your life. For many people, the idea of taking on so much debt is daunting. However, like most debts, it's possible to take steps to make them affordable and easy to pay down over time.
Many things can cause you to run up credit card debt, but not all of those reasons are bad. You may have to rely on credit to pay for life's necessities. This might be due to a layoff or a medical condition. When emergencies happen, your credit cards can be a lifeline. Unfortunately, that lifeline can prove to be a challenge in the future.
Personal bankruptcy is a good tool that you can use if you find that you are in debt that you won't be able to repay. There are many benefits to this, but some people worry about how it will impact their creditors. The fact is that creditors might lose money when you file for bankruptcy, but it may be a lot less than what they would spend to try to collect money from you when you know that you aren't going to be able to repay it.
Many people worry about filing for Chapter 7 bankruptcy. They think that it will make them look like they were simply bad with money or as if they're just trying to rid themselves of past debts without paying back what they owe.
Drivers who have consumed alcohol don't have a place on the road because they put themselves and others in danger. Police officers try to spot drunk drivers so they can get them off the road. Unfortunately, this means that people who haven't ever been in legal trouble might suddenly face criminal charges.
Unexpected medical care is costly. You might not realize the full extent of the financial impact until the bills start rolling in after you receive the care you so desperately need. In some cases, the co-pays and deductibles that you have to pay are going to lead to financial difficulties. It is possible that you will be billed for those, but some places require them upfront.