As more and more millennials in Mississippi enter the workforce, move out of their parents' homes and even start their own families, they are doing so with a very unique view of money and reality surrounding debt than did the generations before them. This group of people has come of age during the Great Recession and may still be struggling to figure out how to avoid serious personal financial troubles themselves.
At the Pond Law Firm in Mississippi, we understand the difficulties you face when your earnings are insufficient to cover your bills. We also understand that you nevertheless hesitate to file bankruptcy for a variety of reasons that may or may not be valid.
Finding that one's financial outlook is in a state of limbo can open the door to a world of stress. Mississippi residents already facing this daunting obstacle understand the severity of an economic crisis. While the right solution can depend entirely on one's financial goals and situation, oftentimes bankruptcy can come to the rescue. Many consumers might wonder, what is the difference between Chapter 7 and Chapter 13 bankruptcy?
Many people may believe that once a recession has been declared over and most economic indicators point to a positive economy, the need for personal bankruptcy no longer exists. This could not be further from the truth and plenty of Mississippi residents are all too aware of their continued need for debt relief.
You're trying to decide between Chapter 7 bankruptcy and Chapter 13. What are the differences and how do they impact your debts?
Choosing to file for bankruptcy in Mississippi is a big decision. Once you have made this choice and decided to file for Chapter 7, you may think there is little else you need to do. However, there is much more to this process and it is important for you to understand the fine details.
It is easy to think that you are unique in your struggles with debt. This may prompt you to shy away from seeking advice and assistance from others in Jackson due to the perceived stigma associated with financial troubles. Many clients have come to us here at the Pond Law Firm with the same assumption only to be surprised to discover that many people grapple with the same issues. Just as you are not alone in dealing with debt, you are also not without ways to overcome it. After evaluating your options, you might just discover that a Chapter 7 bankruptcy gives you your best chance at re-establishing yourself on firm financial footing.
For many individuals who consider filing bankruptcy, there is a concern that they will lose their property - particularly their home. While other assets can be replenished over time, a house typically comes with emotional attachments that are irreplaceable and difficult to lose.
When Mississippi residents like you are struggling with debt, you may be tempted to take any road you can to dig yourself out of it. Fortunately, the Pond Law Firm is here to offer a helping hand. For example, if you're looking into Chapter 7 bankruptcy, we provide you with what you need to know to decide if it's truly a good fit for your lifestyle.
With the holiday season quickly approaching, sales are around every corner. Whether it is a new television set for the family or simply a personal shopping treat, the temptations to buy a plethora of products are at their strongest. What, then, is the end result regarding one's wallet? Although many Mississippi residents can coast through the holidays with financial ease, others find themselves in less appealing situations when they realize one shopping trip has turned into ten.