When New York consumers are struggling under crushing amounts of debt, it can feel as if there is no way out. Dealing with the harassment of bill collectors or problems related to wage garnishments can make the situation even worse for those already worried about how to make ends meet. Many consumers and families would benefit from a greater understanding of personal bankruptcy, a very valuable debt relief tool which can stop foreclosure or result in more manageable payments.
Although the recession may officially be over, many New York residents and others across the country are still dealing with the lingering effects and continued financial challenges. Many people struggle for a short time and then regain their financial footing, while others seem to fall further and further behind as the result of snowballing, unfortunate circumstances. When debt rises and people are unable to make their monthly payments, may find themselves dealing with harassment and stress from a collection agency.