Many persons in Arkansas might already know about some of the material benefits that can be obtained through a bankruptcy filing.
Posts tagged "Chapter 7"
When it comes to unsecured debt, medical bills loom large and prominent for their ability to turn people’s lives upside down.
What many Arkansas residents and other people from across the United States have discovered over the past several years is that bankruptcy is a quite often misunderstood yet eminently effective legal strategy for securing relief from punishing debt levels.
The question posed above in the headline for this blog entry is an inquiry that goes far beyond academic musing, given the many millions of Americans poised to receive or already receiving IRA assets inherited through their parents.
Tough economic times in recent years have led high numbers of Arkansas residents and millions of other persons throughout the country to consider filing or actually filing for bankruptcy.
There are some people who will argue that filing for bankruptcy is the worst thing anyone could do. There are others who look at those who file for bankruptcy as being irresponsible. For financial professionals like Suze Orman, however, filing for bankruptcy is the responsible and sensible thing to do when someone is truly overwhelmed by debt.
In this economic climate it is not that unusual to learn of people in Pulaski County who are struggling with debt. Sadly, there are many people who have tried to invest wisely, but those investments have fallen through, leaving them facing insurmountable debt. It has happened to all kinds of people, even the former University of Arkansas interim head football coach, John Smith.