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Chapter 7 Bankruptcy may be the answer to one's financial problem

It happens all too easily; without realizing it, a Kentucky resident has dug a financial hole that appears impossible to climb out of. The bills keep coming in, and the bill collectors begin to call. One quickly realizes that making only minimum payments on accounts means years of financial stress and added interest. Many times, it just doesn't seem like there is a solution to the financial problem. However, for some, filing Chapter 7 Bankruptcy may be the answer.

At first, some believe that the word bankruptcy carries with it a negative connotation. Yet, for some, it is the only reasonable answer to the financial duress they are under. The medical bills, mortgage, car loans and credit card debt just become too much. When this happens, some resolution to the problem needs to be found.

One candidate running for treasurer in her home county recently acknowledged that she found it necessary to file for Chapter 7 bankruptcy when she was 19 years old. She was just starting out and found herself facing financial problems. The debt was too much, and she needed to find some relief. She has now recovered from this period in her life, and she has established herself both financially and professionally.

Financial problems are not just found among those just starting out in Kentucky. For some, they can be triggered by the loss of a job, a divorce or an illness. However, financial problems do not need to cause undue hardship and even more stress on the individual. Filing Chapter 7 bankruptcy may be the answer to these problems.

Source: theworldlink.com, "Treasurer candidate filed for bankruptcy in the past", Saphara Harrell, Oct. 31, 2016

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