Inflation is defined as an increase in the price of goods over time. In other words, decreased purchasing power or quality. Over time there has been an increase in cost due to inflation . This has led to an increase in the cost of goods and services.

Factors That Cause Inflation:

1. Rising prices of energy goods and food
2. Rising demand for products due to increased production
3. Money printed by the government without anti-inflation measures in place
4. Credit or debt inflating the economy
5. Government spending or cutting supply (also known as austerity measures)



How Bankruptcy Can Be Used to Free Up Money for the Increase in Cost and Goods

Bankruptcy is a legal course of action taken by individuals, who cannot afford to pay debts due to loss of income, overburdened finances, or even the unexpected. When an individual cannot pay debts under the existing terms for payback, it can lead to the need to file a bankruptcy. Bankruptcy can be helpful to clear up their debts so that people can walk away from their financial situation with a clean or "fresh" start and not have their reputation tarnished. 

Bankruptcy helps with inflation because it is a way to free up money by canceling the requirement to pay expensive debt as soon as possible. It is a way to get your financial situation back on track and allow you to live within your means.

Conclusion

In conclusion, when inflation rises, so do the cost of goods and services. This reduces the budget normally reserved from food, clothing, and other necessities of life. To prevent this from happening, we must act fast to prevent the situation from worsening. In recent years, people have turned to bankruptcy, which can give a person a fresh start and free them from a tightening budget by adjusting their financial burden by either paying back what they owe, with a bankruptcy payment plan, or just get some much-needed rest from the burden of owing debt.