Should you consider credit card debt bankruptcy? The card bills are coming in again this month. You struggled last month just making the minimum payments. The Obama administration was supposed to give you help with your bills with their fancy legislation, but the impact on you was simply to increase your card interest rates to frankly, obscene levels.

The Federal Trade Commission has provided a calculator on its website that is designed to calculate the years necessary to pay off credit card debt. After filling out the variables for the calculator of the 29.9% interest rate and the minimum payment now being charged by the card company, the calculator determined that it would not be possible to pay off the debt during the rest of your life.

There is nothing else that you can do without risking your family’s future, health, and maybe even your home. You just can’t do that. To protect your future and get what your family deserves, you just cannot continue trying to make the payments.

The loss of your job was tough but you are making it with hope for the future. You have to change what you are doing to start over though.

The law provides a solution. Bankruptcy gives you the way to start over from scratch. Even though you were taught by your parents and school that all debts must be paid back, even General Motors was bailed out by bankruptcy and President Obama. If GM can start over, why not you? The bankruptcy laws were passed just so that someone could get a fresh start and begin again.

Bankruptcy is in fact about forgiveness, not punishment. Our American dream is to be able to build a sound financial future for our families. The bankruptcy laws are designed to be able to give a clean start so that someone can start over and begin again.

The decision to file bankruptcy should not be taken lightly and you must get professional advice before making that decision. You will be required to attend debt counseling before filing bankruptcy. Although it is not required, one should strongly think about participating in a credit score improvement course following credit card debt bankruptcy, so that you truly get a clean start.

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