Bankruptcy

It's often discussed that the leading reason that people file for bankruptcy is that they have medical debt. There are a lot of reasons for this, from the fact that medical care is incredibly expensive in the United States to the reality that most people are going to...

Filing for Chapter 7 bankruptcy requires that you report your personal property to a trustee appointed by the courts. That trustee has to look over the inventory of your assets and determine if you must liquidate or sell off some of those belonging to repay your...

Most people who decide to file for bankruptcy will have to choose between Chapter 7 and Chapter 13 proceedings. Chapter 7 is a faster process, but it may require that someone sell certain possessions or empty their bank account to repay creditors before discharge....

There are a lot of myths surrounding bankruptcy, and the most prevalent may be that it is caused by irresponsibility. Outside critics are very quick to stereotype those who file for bankruptcy as people who should have made better financial choices and not gotten...

There is a common misconception that bankruptcy only affects those who are careless with their money, but this is far from the truth. The reality is that many people across the country are having a hard time financially. In fact, studies indicate that millions of...

One of the most disheartening things that people with debts have to deal with is creditors making collection attempts. This can lead to a dread of answering the phone or checking the mail. When you realize that you simply can’t cover the debts you have, you may decide...

As you’ve gotten older, the one thing you always dealt with was debt. Every time you paid it off, it seemed like it came back again. Now, in your retirement, you have debt from a medical emergency and no way to pay it off. Your credit cards were maxed out paying for...

Bankruptcy is often the last measure someone can take to protect themselves from ever-mounting levels of debt. People often try other means of regaining financial control before they even consider bankruptcy.  When creditors become aggressive in their collection...

You are able to go into bankruptcy at any age, but if you plan to do so in your 20s, it can be more difficult than if you’re older. Why? You can only start to get credit once you turn 18, so going into bankruptcy that young may be a red flag to the court that you...

Are you looking into bankruptcy? If you’re having trouble paying your bills and covering the debts you owe, then one option may be to go through bankruptcy to eliminate unsecured debts or to get them onto a reasonable payment plan. With Chapter 7 bankruptcy, you’ll...