Avoiding credit card debt might seem like a good idea, but doing so can actually be fairly difficult. From credit card offers in the mail, during checkout at popular retail stores and even in emails from an individual's banks, these rectangles of plastic seem to be everywhere. Unfortunately, credit card debt is also fairly common, which Chapter 13 bankruptcy can help address. However, just like how some California consumers might not even realize how many credit card offers they receive on a daily basis, others may not even know they have debt on their cards.
Almost everyone has heard of distracted driving, which often involves a motorist trying to multitask. However, distractions can also be dangerous when walking.
Discussions and news articles about too much debt often focus on individual consumers and their bankruptcy options. However, many businesses also deal with overwhelming levels of debt that make it nearly impossible to continue regular operations. What some California business owners may not realize is that, like individual consumers, they can also address their debt through bankruptcy. Chapter 11 bankruptcy can help businesses reorganize to promote their future profitability.
Credit cards can be helpful tools for California consumers who want to build credit, collect reward points or even just bridge small gaps between paychecks. While credit cards can provide a number of benefits, they also have a number of drawbacks. Consumers who struggle to pay off their balances may be surprised to realize how much interest they end up paying every month. For some, it could end up leading toward Chapter 7 bankruptcy.
Too much debt is not a problem isolated to consumers. Despite their best efforts, some businesses in California find that they can no longer address their debts. This was apparently the case for FTD Cos., which recently filed for Chapter 11 bankruptcy.