As the government keeps talking about falling off the fiscal cliff, all anyone is talking about is getting more credit.
Whatever happened to becoming debt-free? The US government now has close to $17 trillion in debt and is running a deficit of $1 trillion a year.
Many experts are now saying that the US is going to be like Greece, Cyprus, Japan and even worse the Weimar Republic in the next few years because of the debt it is incurring and the money it's printing.
Many Americans are following suit and not coming up with a debt solution by cutting spending but just borrowing more to keep the machine running.
At some point in time the whole thing will come crashing down whether it's a government or an individual consumer.
The only difference between an individual and the government is they believe they can print their way out of debt.
This financial model does not work, it never has and it never will.
Here is a quick way for an American to get out of debt and become debt free.
The quickest and easiest way to accomplish this is to file bankruptcy.
Filing Chapter 7 bankruptcy will eliminate a large amount of unsecured debt and the whole process only takes about 4 to 6 months.
People don't need to worry about what the creditors think because they won't even be able to contact the individual because of the automatic stay.
The automatic stay goes into place at the time of filing the bankruptcy petition and continues all the way to the bankruptcy discharge.
Today, many people are buried upside down in a mortgage that they cannot afford.
In some cases, eliminating all of one's unsecured debt will allow the individual to free up enough disposable income and allow them to keep their home out of foreclosure.
People that are buried under a mountain of debt and struggling to make ends meet should consider speaking with a bankruptcy attorney to see if filing Chapter 7 bankruptcy is a viable solution to eliminating debt.
For someone that has the majority of their debt being unsecured like, credit cards, payday loans, personal loans and medical bills, a Chapter 7 bankruptcy is king.
When an individual receives their bankruptcy discharge, if they aren't debt-free, they will be close to it.
Over the last five years many Americans have exercised their legal right to file bankruptcy and eliminate their debt.
Although the number of those filing has dropped, many experts are predicting the next few years to see another onslaught of Americans using bankruptcy to get creditors off their back.