Shoudl I Get A Personal Loan Or Finance The Ring The New Employment of America Will Lead Many Into Filing Bankruptcy

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The New Employment of America Will Lead Many Into Filing Bankruptcy

Since 2010, governments have added trillions of dollars to add liquidity to markets in hopes of some form of economic recovery. The scary thing is, this money was not real money in their coffers but money printed out of thin air in the form of quantitative easing. Most Americans don’t understand what quantitative easing is, but in a nut shell it’s nothing more than making money that isn’t backed by anything. In essence, it devalues ​​every dollar we earn. The Federal Reserve admits to increasing the money supply by 20 times, so if I have my math right, every dollar in my pocket is now worth a nickel. The media is beating this drum of full recovery when in reality millions are out of a job. In fact, it actually started back in 2000 when US corporations started moving all their production offshore. This is when the American economy was driven by debt and nothing else. We are no longer producers of anything, but only consumers and this will only work as long as they continue to print money for banks to lend to consumers.

Looking at the unemployment numbers it is hard to believe that it is only 6.7% at last check. You can’t pick up and read financial documents without hearing about a major corporate filing for bankruptcy or a bankruptcy announcement or the closing of multiple corporate locations. At the peak of unemployment a few years ago, the employment-to-population ratio was 62% and unemployment was over 10%. Now at 6.7%, that ratio is now 56%. Once again, checking my math, that ratio should increase as the number of proofs decreases. It’s obvious that someone cooked the books. The good news is, filing bankruptcy is still available to anyone struggling. They need to look for that silver lining in the bankruptcy cloud and see the positive side.

Historically, when it comes to filing bankruptcy all you really care about is the negative. Rarely does one hear about the good things about filing a bankruptcy petition. If anyone wants to hear some good news on this topic, they should consult a bankruptcy attorney. A bankruptcy attorney will tell the person about the automatic stay and how powerful it is. An automatic stay is placed during a bankruptcy filing and prevents creditors from collecting on any debt. In fact, it is so powerful that it will stop all legal activity including foreclosures, lawsuits, judgments and wage garnishments. Creditors will no longer even be able to contact the lender, as a result, borrowers will enjoy the peace of mind of not having to worry about who is on the other end when the phone rings.

The second most positive benefit of filing bankruptcy is a bankruptcy discharge. A bankruptcy discharge is a secret that creditors don’t want the debtor to know. Creditors want people to believe that filing for bankruptcy will destroy their lives. This is why there is so much negative information online. Debt collectors will do anything to talk someone out of filing for bankruptcy because they know that once the person files, they will no longer be able to call the person and when the bankruptcy discharge comes they will receive nothing. Filing a Chapter 7 bankruptcy erases all unsecured debts completely without any repayment. When it comes to Chapter 13, the debtor and their bankruptcy attorney need to present a possible repayment plan to the bankruptcy court. In a Chapter 13 bankruptcy, debts are paid by priority, with cash getting the first crack. Typically, very little will be paid off on unsecured debt and any remaining balance will be included in the bankruptcy discharge at the end of the payment plan.

The truth is, there is no economic recovery that the media is talking about and people need to be proactive in finding the truth. When things don’t add up, talk at face value about who they work for. More Americans are waking up to the truth as more than 50 million people are receiving food stamps while finding it increasingly difficult to cover a non-existent recovery and many are moving in with their elderly parents because they can’t afford a roof over their heads. their heads.

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