Being unable to pay your bills is a serious matter, especially when you want to get the creditors taken care of. Unfortunately, some of life's circumstances won't make this possible. If you're in a position in which you're unable to pay your bills, you might consider filing for bankruptcy. A Chapter 7 bankruptcy is one of the options that you have.
There are many consequences that come with owing a significant amount of credit card debt. One of the things you may find yourself dealing with is constant contact from creditors and debt collectors. They may call at all hours, demanding payments. Sometimes, their efforts can become hostile, and you may not be sure what to do next.
A person who is struggling to pay their bills because of high payments due on credit accounts and medical bills might opt to pursue a bankruptcy. For people who have an income, a Chapter 13 bankruptcy might be the most appropriate option.
When you realize that you can't pay your bills, you might start to look at ways to make ends meet. The downturn of the economy may mean that you don't have all the options at your disposal that you might have previously had. For some people, sudden job loss or emergency medical bills leave them needing to find a way to satisfy creditors. One option you might consider is filing a Chapter 7 bankruptcy.