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Cost of Living and Bankruptcy

James Doan - Monday, September 17, 2012

The cost of living just seems to be going up and up, doesn't it?  Well, in fact, it is!  The US Consumer Price Index increased in August by the greatest percentage since June 2009.  This of course means that we are paying more for everything.  

The CPI jump is fueled at the gas pump.  Rising fuel prices increase the cost of production and the expense of delivery.  Add to this the worst drought in the Midwest in 70 years, soaring energy bills during the 3rd hottest summer since 1880, and the price of goods rises even more.  While companies are trying to pass on the increase in commodities expense to consumers, if you haven't noticed, your paycheck is not keeping up with the rise in costs.  

All of this is a continued burden on the economy and leads more families into greater debt when they have to charge filling up the gas tank and paying for groceries at the store.

For those struggling with toxic debt, filing bankruptcy is actually a responsible move in an economy that continues to be tied down by rising prices.  Instead of spending an astronomical percentage of your paycheck on old debt and unreasonable interest rates, you can eliminate those expenses and put your money to work for you.  

You can stop foreclosure on your home, and make it affordable again by stripping a second mortgage.  The money you save can then be used to meet the rising cost of living.  You eliminate credit card debt and start paying cash at the gas pump. You can stop wage garnishment and use that money to meet your family's needs, not a creditor's.   

Of course there are many options available to manage debt.  If you are noticing that your paycheck isn't keeping up with your expenses, talk to an experienced attorney in a free consultation and make a plan.

Doan Law Group is California's Largest Family of Bankruptcy Attorneys.  We know bankruptcy, and we can tell you how it can work for you.  Call us at 88-362-6529, or visit us on the web, at  

And don't let bills ruin your life.

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