The cost of oil and gas inches skyward. Retail prices are following suit. Even with a solid job market, wages are not rising as fast. Many employed find that they are still unable to save earnings week to week. Because of this an unplanned medical event or a household disaster such as a pipe flood, plumbing mishap, or cooling system casualty and crash a families budget and redirect earnings away from the necessaries of life such as food, a place to live, transportation, clothes, medicine and continued medical treatment. Compounding this mix are the ongoing more or less fixed expenses of operation a household. While not a perfect solution, Chapter 7 and Chapter 13 bankruptcy may be a useful tool in financial planning. Chapter 7 or fresh start eliminates credit card debt, check cashing loans, medical bills, lawsuits involving collections and garnishments, repossessions, and in other cases lets you get out of home mortgages, and automobile payments. However, you will need to find other transportation and a place to live. Chapter 13 will help if you are behind on a mortgage, facing foreclosure or repossession. It permits you to continue payments as schedule and allows you to payoff the arrearage or catchup over the life of the Chapter 13 plan. Call me to schedule a brief consultation. TK for BK.