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Something to Live for When Life as You Know it Changes

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When markets crashed, home prices fell, and unemployment rates rose, many desperate debtors were left destitute, depressed and feeling without hope in the height of our recent Great Recession. And as you might imagine, and as researchers at the Centers for Disease Control and Prevention confirmed last week, some of these desperate Americans even took their own lives—in greater number—during the tough economic times of the 2000s.

These troubling stats were confirmed in the CDC’s latest study, published online in the American Journal of Public Health. According to Reuters, the new study was the first of its kind to evaluate suicide trends by age and business cycles, revealing that working Americans, aged 25 to 64, are significantly more likely to commit suicide when facing the feeling of insurmountable economic struggles. Looking at the impact of business cycles on U.S. suicide rates from 1928 through 2007, researchers found “a general correlation among suicide rates and major shifts in the U.S. economy.”

“For example, suicides famously spiked during the Great Depression, surging to a record high of 22 suicides per 100,000 people in 1932, up from 18 per 100,000 in 1928. But other slowdowns also saw an increase in suicides, including the end of the New Deal (1937-1938), the Oil Crisis (1973-1975), and the Double-Dip Recession (1980-1982.) And suicide rates tended to fall during periods of plenty, such as during World War Two and the decade-long expansion from 1991 to 2001, in which the economy flourished and there were low rates of unemployment.”

Based on these results, acting director of CDC's Injury Center's Division of Violence Prevention, James Mercy said,  "Knowing suicides increased during economic recessions and fell during expansions underscores the need for additional suicide prevention measures when the economy weakens. It is an important finding for policy makers and those working to prevent suicide."

Are you one of the many Americans who has considered desperate measures during desperate economic times? Are you still struggling to find a silver lining amid loads of bills and few financial answers? Well, take heart. You have options for even the most difficult fiscal hardships, including:

If Creditors are Calling and Lawsuits are Pending.
If you’re handcuffed by joblessness, medical bills, or other unexpected budgetary burdens, you may be facing creditor lawsuits, whereby your lenders are using the law to win judgments and eventually seize your assets.  If this is the case, bankruptcy is a clear choice, allowing you to stop these types of proceedings cold and get you on a financial course that will allow you to meet your ongoing obligations and the needs of you and your family.

If Creditors are Garnishing your Paycheck.
Wage garnishment is a sure sign that creditors have not only sued you, but they’re also winning.  While wage garnishment is limited under North Carolina law, certain entities such as taxing authorities and student loan creditors may garnish your wages or creditors may do so if your employer’s main office is located outside of the state. Bankruptcy is the best way—and often the only way—to end such wage garnishments, saving your income from creditors, and for the things you need most.

You are Behind on Your Rent Or Mortgages and are Facing Eviction
As you already know, keeping a roof over your head is a priority, and, with millions facing foreclosure in 2011, the potential to lose the security of shelter is real for many Americans. While bankruptcy will not wipe away your requirement to pay rent or your house note for an apartment or home you intend to stay in, it can keep you in your home or apartment and wipe out other debts that might have forced you into eviction in the first place. In the case where your mortgage is untenable, bankruptcy can discharge what you owe, allowing you to walk away from one house to walk into another that you can actually afford.

Long story short? If you’re facing financial woes, don’t lose hope. The bankruptcy professionals at the Law Offices of John T. Orcutt offer a totally FREE debt consultation and now, more than ever, it’s time to allay your fears and take them up on their offer. Just call toll free to 1-888-234-4181, or during the off hours, you can make your own appointment right online at www.billsbills.com. Simply click on the yellow “FREE Consultation Now” button.

 

 

 

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