Most people understand it is important to live within your means. Yet, for many Americans, that includes financing a vehicle with affordable monthly payments. However, considering unforeseen expenses and changes in income, things happen.
Reclaiming your financial security is one of the most common reasons why people opt to file for bankruptcy. There are other benefits that occur when you file. One of these is the automatic stay. Many people who file bankruptcy find this order to be one of the most pleasant things that happens when their case is started.
Many people look forward to receiving an income tax refund because of the financial boost. If you are planning on filing for bankruptcy, you can use this extra money to augment your financial situation before the filing. Make sure you don't file for bankruptcy until you have your tax refund in your hand since the trustee will get the refund you file before you have it.
Your finances control just about every aspect of your life. You have to think about what you can afford before you make a purchase. Not only do you have to look at the total cost of the items you want to purchase, but you also need to think about whether you'll be able to make the monthly payments or not.