Inflation Will Cause Many to File Bankruptcy in the Next Few Years

As 2013 roars up upon us, many Americans are starting to see inflation like we have never seen before. What is funny is how the Department of Commerce has changed the way they report data to make inflation seem like it's almost nonexistent. We do know that over the last year the rate of Americans filing for bankruptcy has declined slightly. Is this a trend or is it a fluke? It doesn't seem like the economy is getting better and we have now seen QE1, QE2, the twist and now QE3. Billions of dollars has been thrown into the economy and nothing is getting any better. Four years ago the average price of a gallon of gas was $1.85, now that same gallon of gas is close to four dollars. Recently, they reported that inflation was less than 2%. This doesn't make any sense if you go to the grocery store you will see that a gallon of milk is up about 25%, coffee is up 90%, orange juice is almost up 50%, Turkey is up 50% and beef is up 60%. I don't know about you but it seems to me that inflation is going to cause more Americans to file bankruptcy in the near future.

A better title for this article should have been the incredible shrinking dollar but I'm more concerned with the long-term impact of the average American. It doesn't make any sense with the news that's being put out by the mainstream media. According to them, this must be the new normal. After further investigation it makes more sense to see how the numbers have changed. The government added in housing, which is currently deflationary, to the inflation numbers and that's how they are reporting that inflation is being kept in check. When American families know that their paycheck does not go as far, they will turn to credit to fill the void. At some point in time the credit will overwhelm the budget making the idea of kicking the can down the road no longer work. This is where the idea that many more Americans will have to file bankruptcy to eliminate this debt that they have accumulated to subsidize their income.

Americans need a reality check and should not feel bad about filing for bankruptcy to eliminate debt. For many, it is not an option but it's more about survival. The idea of becoming debt-free is something that will end up in history books covered with dust. Creditors with the help of the government, have put American citizens in bondage to the lending institutions of the world. The only hope for many of these Americans is to file for bankruptcy and cut the ties. When Corporations file bankruptcy, it's good business. When an individual has to file bankruptcy, it's dishonest to not pay your bills. That is a stigma that we all need to put behind us. A capitalistic society would not survive without having bankruptcy filing is a way out when things fall apart. People should not feel embarrassed about having to consult a bankruptcy lawyer about their financial situation. Most of the time they will leave the bankruptcy lawyer being encouraged that they are not alone during these tough times.

Filing Bankruptcy? Don't Worry About What You Lose But What You Gain   Inflation Will Cause Many to File Bankruptcy in the Next Few Years   

Inflation Will Cause Many to File Bankruptcy in the Next Few Years

As 2013 roars up upon us, many Americans are starting to see inflation like we have never seen before. What is funny is how the Department of Commerce has changed the way they report data to make inflation seem like it's almost nonexistent. We do know that over the last year the rate of Americans filing for bankruptcy has declined slightly. Is this a trend or is it a fluke? It doesn't seem like the economy is getting better and we have now seen QE1, QE2, the twist and now QE3. Billions of dollars has been thrown into the economy and nothing is getting any better. Four years ago the average price of a gallon of gas was $1.85, now that same gallon of gas is close to four dollars. Recently, they reported that inflation was less than 2%. This doesn't make any sense if you go to the grocery store you will see that a gallon of milk is up about 25%, coffee is up 90%, orange juice is almost up 50%, Turkey is up 50% and beef is up 60%. I don't know about you but it seems to me that inflation is going to cause more Americans to file bankruptcy in the near future.

A better title for this article should have been the incredible shrinking dollar but I'm more concerned with the long-term impact of the average American. It doesn't make any sense with the news that's being put out by the mainstream media. According to them, this must be the new normal. After further investigation it makes more sense to see how the numbers have changed. The government added in housing, which is currently deflationary, to the inflation numbers and that's how they are reporting that inflation is being kept in check. When American families know that their paycheck does not go as far, they will turn to credit to fill the void. At some point in time the credit will overwhelm the budget making the idea of kicking the can down the road no longer work. This is where the idea that many more Americans will have to file bankruptcy to eliminate this debt that they have accumulated to subsidize their income.

Americans need a reality check and should not feel bad about filing for bankruptcy to eliminate debt. For many, it is not an option but it's more about survival. The idea of becoming debt-free is something that will end up in history books covered with dust. Creditors with the help of the government, have put American citizens in bondage to the lending institutions of the world. The only hope for many of these Americans is to file for bankruptcy and cut the ties. When Corporations file bankruptcy, it's good business. When an individual has to file bankruptcy, it's dishonest to not pay your bills. That is a stigma that we all need to put behind us. A capitalistic society would not survive without having bankruptcy filing is a way out when things fall apart. People should not feel embarrassed about having to consult a bankruptcy lawyer about their financial situation. Most of the time they will leave the bankruptcy lawyer being encouraged that they are not alone during these tough times.

Filing Bankruptcy? Don't Worry About What You Lose But What You Gain   Inflation Will Cause Many to File Bankruptcy in the Next Few Years   

Filing Bankruptcy? Don't Worry About What You Lose But What You Gain

Now that we are once again heading into a holiday season most Americans put a high priority on materialism. As consumer debt continues to rise many Americans will be considering filing bankruptcy once again for their New Year's resolution. Most people take on the attitude that they will have one more outrageous Christmas on their credit cards and then start working on becoming debt-free even if it means filing for bankruptcy. But instead of taking care of business now, the pain is pushed off to 2013.

The good news is a bankruptcy filing can break the bondage of debt and free your soul. When we look at how materialistic and superficial the world has gotten we need to look at what the Bible says about it. In Matthew 16:26 Jesus made a strong statement regarding this, "For what willit profit a manif he gainsthe whole world and forfeits his soul? Basically, he is saying that you can't take the stuff with you, so you need to get your priorities in check. The last time I checked, you never see a hearse towing a U-Haul trailer. Basically, Americans are putting themselves in debt so they can have everything they want. What they give up is the debt ends up owning them. Many families end up breaking up as the debt becomes overwhelming that was created so they could have the big house, the fancy cars and give their kids everything they asked for. We see this scenario played out over and over again in American culture where it ends up in divorce, a foreclosure and a bankruptcy filing.

People especially today should be aware of what's going on economically nationwide and take the steps to put their personal financial future in check. For some people, filing bankruptcy might be the best way for them to put their debt behind them and get a second chance at becoming debt-free in the future. Since the housing market blew up back in 2007, many Americans have been scraping along hoping that things will turn around. While hope is good, there becomes a point in time where common sense has to come into the picture. People really need to take a hard look in what is in the future for the industry they are in and how it will affect their finances. The way it looks now for the economy is this is the new normal. Thinking any differently is utter foolishness.

Being proactive when it comes to financial matters will help alleviate any stress that comes with being behind on bills. When someone gets to the point that they are robbing Peter to pay Paul they should consider seeking the advice of a bankruptcy attorney to see if filing Chapter 7 bankruptcy might have something to offer for their personal situation. It doesn't mean that they have to file bankruptcy immediately, but it might give the individual some information that could prepare them for what is to come whether it be good or bad.

All we need to do is remember that knowledge is power and the more knowledge you have about financial matters including filing bankruptcy will give an individual an upper leg on getting out of debt quickly and get on the road to becoming debt-free. Many famous people have done exactly this and are now successful giants in industry. Instead of waiting around for things to turn around people should be proactive especially in this economy and consult a bankruptcy attorney before it's too late.

Filing Bankruptcy? Don't Worry About What You Lose But What You Gain   Inflation Will Cause Many to File Bankruptcy in the Next Few Years