Oftentimes, those contemplating bankruptcy have maxed out their credit cards or have been recently served by a lender who is tired of waiting for them to pay the full balance that they owe. For someone just barely able to afford their basic expenses every month, the...
Bankruptcy
How is Chapter 13 bankruptcy different than Chapter 7?
When many people think about bankruptcy, they automatically think about Chapter 7 bankruptcy. This is a type of bankruptcy used for people who are likely never going to have the financial resources to pay off the debt that they owe. They will use it to liquidate their...
What actions should you avoid before and during your bankruptcy?
Debt that is impossible to pay down or off affects life in many ways, from parenting to working to your mental outlook. The constant worry and stress can also affect your physical health, often leading to high blood pressure and other ailments. Once you decide that a...
2 ways bankruptcy can help those at risk of losing their homes
You may have spent years saving for the down payment on your home and even longer making mortgage payments. Unfortunately, until the day that you submit the very last payment due, your home is still at risk of foreclosure. Your lender can potentially take you to court...
Does bankruptcy prevent you from securing personal credit?
The average adult in the United States requires multiple forms of credit to maintain a fully operational household. They may have purchased their home with a mortgage and their vehicle with a loan. They may use short-term loans or financing for medical care and credit...
How do you know it is time to file for personal bankruptcy?
Bankruptcy is a powerful financial tool for those having difficulties paying off their personal debt. A successful bankruptcy filing will result in the discharge of someone's unsecured debts. Depending on the type of bankruptcy an individual files, they may need to...
Tackling credit card debt
Credit card spending has been rising since the start of the pandemic in 2019. Estimates suggest an increase of anywhere from 14 to over 33 percent in credit card spending. If you are among the millions of people who increased credit card spending in the last couple of...
Changes to medical debt reporting on the way
Millions of Americans carry medical debt. According to the Consumer Financial Protection Bureau, most people owe hundreds or thousands of dollars in medical bills. Owing this much can be financially devastating for individuals, affecting everything from where they...
Struggling with debt? You are not alone
The last two years have been incredibly stressful on Pennsylvania families who have struggled with illness, job loss and emotional distress. And for many people, their financial situation has taken an enormous hit, especially during the last year. Looking at the...
Yes, you can bounce back from bankruptcy
People often dismiss bankruptcy as an effective debt relief option because of misconceptions and fears. One fear is that filing for bankruptcy will destroy their financial future. However, you can recover from bankruptcy. People do it all the time using some of the...