Now that Thanksgiving is here, it’s official that the shopping season for Christmas has begun. We are already being bombarded with ads for Black Friday. It doesn’t end there, immediately following Black Friday is cyber Monday. All these quote unquote shopping holidays have been created by corporate America to get in the wallets of hard-working Americans. It’s not all bad though, for those that don’t overindulge there are a lot of good deals to be found. The newspapers and Internet will be on fire with online e-mails and ads filling the middle of the newspaper. Every business is fighting for the dollar to come out on top in this season. Since the economy has been in the tank for four years now, economists and stock traders are looking for good news to see if things are turning the corner yet. Many are expecting a slow season because of the low amount of product ordered for Christmas. When the dust settles we will see if we’re still sliding down the muddy recession slope.

There is a dark side to this happy time of the year. While Americans are getting together with their family, many don’t talk about the large amount of debt that they are saddled with. In the back of many Americans minds is whether or not a bankruptcy filing is in the near future. Creditors are having no problem continuing to extend credit to people they can’t afford it. As the Fed continues to print money and push it out to the member banks, the banks in turn are giving it to their customers to further put them in bondage to debt. Unemployment numbers have stood at over 8% for four years now and the scary thing is most people are getting used to it. Many Americans have given up looking for work and getting used to living on government assistance. As the salaries in the US continue to decline most Americans face the question, Why work when you can make just as much money on unemployment? As the economy has continued to decline so has the attitude of Americans struggling to make ends meet.

As I am writing this, I’m sure many people are loading up their minivans to head out to the Black Friday sales to get those bargains available. There is nothing wrong with shopping as long as they don’t overindulge. There is good news, filing for bankruptcy is a way to break the bondage of debt they can cripple a person when those bills start coming in the new year. Filing Chapter 7 bankruptcy will eliminate an unlimited amount of unsecured debt. This is right up their alley for someone they got buried in debt trying to buy that perfect gift for loved ones. Before it gets too late, stressed-out individuals should consult a bankruptcy attorney and see if a bankruptcy filing might be in their best interest. In this day and age where there is so much pressure put on spending, people should remember how nice it would be to live like our grandparents did, being completely debt-free.


Source by Bob P Jones