As we head into the holiday season once again, most Americans place a high priority on materialism. As consumer debt continues to mount, many Americans will consider filing for bankruptcy once again for their New Years resolution. Most people take the attitude that they will have a more scandalous Christmas on their credit cards and then go to work to be debt free, even if it means filing for bankruptcy. But instead of taking care of business now, the pain moves to 2013.
The good news is that filing for bankruptcy can break your debt bondage and free your soul. When we look at how materialistic and shallow the world has become, we need to look at what the Bible says about it. In Matthew 16:26 Jesus made a forceful statement regarding this: “What good is it to a man who gains the whole world and loses his soul? Basically, he is saying that you cannot take things with you, so you need to Get it. Your priorities under control. Last time I checked, you never see a hearse towing a U-Haul trailer. Basically, Americans are going into debt so they can have everything they want. What they give up is that debt ends up being owners of them. Many families end up breaking up when the debt becomes overwhelming that was created so they could have the big house, the fancy cars and give their children everything they asked for. We see this scenario repeat itself over and over again in the American culture, where it ends in divorce, foreclosure and bankruptcy.
People, especially today, must be aware of what is happening economically across the country and take the necessary steps to control their personal financial future. For some people, filing for bankruptcy may be the best way to get out of debt and have a second chance at debt-free later in life. Since the housing market exploded in 2007, many Americans have been struggling in the hope that things will change. While hope is good, there comes a time when common sense has to enter the picture. People really need to take a hard look at the future of the industry they are in and how it will affect their finances. The way it looks now for the economy is that this is the new normal. Thinking otherwise is utter nonsense.
Being proactive when it comes to financial matters will help ease the stress that comes with being behind on bills. When someone gets to the point where they are stealing from Peter to pay Paul, you should consider seeking the advice of a bankruptcy attorney to see if filing for Chapter 7 bankruptcy might have something to offer for your personal situation. It doesn’t mean they have to file for bankruptcy right away, but it could give the individual some information that could prepare them for what’s to come, good or bad.
All we have to do is remember that knowledge is power and the more knowledge you have about financial matters, including filing for bankruptcy, you will give a person a head start in getting out of debt quickly and on the road to debt free. Many famous people have done exactly this and are now successful giants in the industry. Rather than waiting for things to change, people need to be proactive, especially in this economy, and consult a bankruptcy attorney before it is too late.
