Many people In Orange County and elsewhere who are in dire straits financially end up in that position for reasons starkly unrelated to personal carelessness or base ignorance regarding budgeting matters.

As noted in a debt-relief article focusing on the pros and cons of filing for bankruptcy, for example, many debtors find themselves ensnared in an insuperably difficult financial situation because of extraneous factors that were beyond their ability to control.

We believe that many of our readers can readily identify with that and, moreover, easily enumerate precisely what some of those extraneous debt catalysts are.

Student loans might come to mind, for instance. Although that type of debt is not customarily forgiven through bankruptcy, it nonetheless serves quite often as a fundamental source of debt-related woes that drive people beyond the brink of financial solvency. Scores of millions of Americans owe many thousands of dollars in education-related debt.

Job loss, too, is a prime catalyst underscoring debt difficulties. This imperiling contributor to financial stress is a phenomenon that has played out in an especially outsized way in recent years, owing to the so-called Great Recession. One attendant and flatly pernicious result of job loss is often home foreclosure, which is yet another challenge that high numbers of Americans never envisioned they would be dealing with.

Skyrocketing medical bills resulting from unexpected illness can also be added to that list of unforeseeable calamities.

The obvious answer to the headline leading off this blog post is that, no, bankruptcy is obviously not the answer to every debt challenge.

As noted in the aforementioned article, though, unforeseeable and catastrophic events such as those referenced above can easily deprive stressed individuals and families of other debt-relief options to pursue when they render financial troubles simply unmanageable.

Bankruptcy is a long-tenured remedy available to underwater debtors that is recognized under both federal and state laws. It has helped millions of people regain financial traction and gain a fresh financial start.

A proven debt-relief attorney can answer questions about bankruptcy and whether it makes sense in a given case.