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.
Credit card debt can sometimes become overwhelming. This can lead to more financial pressure for you because of the nature of the credit card collection industry. Not only do you have to deal with the interest fees, but you will also have late fees and possible over-the-limit fees. Considering bankruptcy when you are at this point can be a life-changing experience.
We know that you might not want to think about not paying your debts, but the reality of the situation may make you realize that you don't have any other alternative. There are two forms of bankruptcy that can come into the picture. One is Chapter 13, which means that you will be placed on a repayment plan. The other is Chapter 7, which involves liquidating assets to repay creditors, but there isn't a repayment plan. Both of these have requirements that you must meet, so this is a consideration when you are trying to decide what to do.
There isn't an easy answer to monetary stress, so you must review all the options you have fully before you make any decisions. If you do decide to file bankruptcy, we are here to help you from start to finish.