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Chapter 7 bankruptcy is easier than donating a kidney

When debt reaches a certain point, it can become an all-consuming concern, penetrating every aspect of a person's life. This can make some people in California feel desperate and willing to try virtually anything to free themselves from past-due notices and harassing creditors. However, consumers have options that do not require drastic measures. Chapter 7 bankruptcy is often quite effective at discharging debt.

The growing level of consumer credit card debt is currently over $1 trillion and is understandably worrying to many people. More than 1,000 American consumers with $500 or more in credit card debts recently participated in a survey, and gave some pretty revealing answers. More than three-quarters of survey respondents said they carry a balance on their credit card from one month over into the next, and 10 percent reported that they felt they would never pay back their debt.

While many felt that paying off their balances would be difficult or impossible, several were willing to give up routine aspects of daily life in exchange for debt relief. Of those surveyed, 31 percent said they would stop using all social media for at least one year. Another 7 percent would be willing to donate a kidney if it meant their debt would be cleared. What about living in Antarctica for two years? Yes, 8 percent would gladly do so.

Debt relief does not have to be such a drastic endeavor. While the circumstances leading up to a person's decision to file for Chapter 7 bankruptcy might be overwhelming, the process itself can provide both financial and emotional relief. When insurmountable debts are discharged, California consumers can more easily re-establish their financial security.

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