Legal-Ease: Dealing with debt

Most people have at least some debts in their life as much of our economy’s spending is based upon borrowed money. Usually our debt is manageable as those who lend us money typically won’t lend us more than we can afford to pay back. However, sometimes sicknesses, job losses and other unforeseen situations put in a financial position that won’t allow us to pay off our debt. So what happens when you can’t pay off your debts?