Unsecured Debt And Bankruptcy In The United States

Unsecured debt has a direct correlation to bankruptcy and debt anxiety in the United States.

Just this year alone the total amount of unsecured debt has increased to 1 trillion collectively.

According to HuffingtonPost, some of the most common factors that cause bankruptcy are medical bills, job loss, student loans and divorce.

*** SPECIAL NOTE *** – If your credit cards, personal loans, or medical debts have become unmanageable and you owe over $20,000… then go here for debt relief. We can help!

How Unmanageable Unsecured Debt Can Lead To Bankruptcy

With the amount of debt increasing, consumers should start considering budgeting expenses and freeing up cash flow.

However, for some it might be too late to take precautionary measures that should have been taken years ago.

Once a person becomes completely dependent on credit cards to buy everyday things like groceries, gas or even bills, trying to put an effective plan in place can seem more like a fantasy than a reality.

In fact, according to research done by creditcards.com, “Credit card defaults, after a lengthy decline, are starting to tick up slightly.”

Credit card delinquencies and defaults on the rise can foreshadow consumers considering bankruptcy in the United States. 

The Impacts Of Bankruptcy

Bankruptcy has a long-term effect on your public record, between 7 to 10 years showing, which can cause problems for renting a piece of property, getting an auto loan, or even finding a job in some cases.

If a person were to receive an inheritance, that could be seized as well. According to TheBankruptcySite, “If you receive an inheritance after filing for bankruptcy, it might become part of your bankruptcy estate.”

Though bankruptcy may seem like the worst option, it is not the end of the world. Many people have needed a fresh start to continue their financial journey with more peace. 

We need to break the silence on the topic of debt and bankruptcy, debt collectors, and debt relief strategies, which most people feel embarrassed to ask about.

If you have a large burden of debt and are considering bankruptcy, we can help. 

At Americor, we understand the unique financial challenges people are facing today.

As America’s trusted source for debt relief solutions, we aim to empower you with financial knowledge that can lead to informed decisions, whether it’s about savings, investments, or managing debt.

If your debt has become unmanageable and you have difficulty making your debt payments each month, then you should consider a FREE consultation call with one of our certified Debt Consultants, who can provide personalized debt relief advice tailored to your specific needs.

By taking proactive steps today, you can put an end to your financial stress and work towards a brighter financial future. 

Remember, there is always hope for debt relief, and our team of experienced professionals are ready to guide you on your journey to regaining control of your finances.

For more information on Americor’s debt relief services, contact us today to see how we can help you eliminate your debts, and get on the fast-track to becoming completely debt-free!