Most people spend decades paying off their mortgages. They may invest as much as a third of their income toward their monthly payments. They may dedicate even more of their income toward repairs and improvements within the home. The equity that they accrue may...
Personal bankruptcy is often the last line of defense for those facing intense economic pressure. A bankruptcy filing can eliminate stressful collection activity and result in the dismissal of pending creditor lawsuits. Bankruptcy can help people renegotiate some of...
Technically, most individuals experiencing financial hardship can file for bankruptcy at any time. However, many people want to avoid bankruptcy if at all possible. They might try to find other debt solutions, such as negotiating with creditors or partnering with a...
Deciding whether to file a Chapter 7, Chapter 13 or Chapter 11 bankruptcy petition isn’t always a straightforward task. The best choice for you and your family and/or business will depend on your financial situation, the type of debt you have and your long-term...
When debt starts to become unmanageable, it can take a shockingly short amount of time for every asset that a family depends on to be placed in jeopardy. From a family car to a family’s residence, debt-related financial obligations can overwhelm budgets and risk the...
A lot of people are afraid of bankruptcy because they worry that they’ll never rebuild their credit again – but that’s a misguided fear. Bankruptcy will show on your credit record for seven years if you file Chapter 13 and 10 if you file for Chapter 7, but its impact...
The U.S. is unique among industrialized countries in having a privatized healthcare system. Unfortunately, that can mean unaffordable medical bills – even for those who have health insurance. Medical debt often exceeds every other type of debt facing Americans. It’s...
If you struggle to simultaneously make ends meet and pay your debts on time, it may be a good idea to consider filing for bankruptcy. Since the Great Recession of 2008, most Americans don’t view bankruptcy with the stigma that was once attached to it. Nowadays, most...
Financial challenges can happen to anybody. When your ability to cope with your debts has become strained, bankruptcy may be the best option for true financial relief. How do you tell, however, the difference between a temporary financial pinch and a financial...
Many people associate the overuse of credit cards with an eventual need to file for personal bankruptcy. While it is certainly true that personal spending habits can impact the likelihood of needing bankruptcy protection, the most common reason that people file for...
