Any financial difficulties can be overwhelming and distressing, but when unemployment is the cause of financial problems, there may be a dire need to deal with mounting debt that seems to have no end. Credit card debt can compound when a person is unemployed. In Florida and elsewhere, unemployment is a major cause of bankruptcy, and it may interest some to know that credit card debt can be effectively handled by filing for bankruptcy.
While weighing the bankruptcy options or waiting for the process to unfold, there are steps those dealing with credit card debt can take to ensure a brighter financial future and a smoother bankruptcy process in general. One step is to inform creditors of a problem. Creditors want to work with those who are struggling and may be to help those on the verge of filing for bankruptcy by possibly lowering payments or suspending payments until bankruptcy is approved or credit card debt is discharged altogether.