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...
What does an automatic stay do in a bankruptcy?
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...
Living on a fixed income: Should you choose bankruptcy?
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...
Can you file for personal bankruptcy more than once?
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...
How young is too young for bankruptcy?
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...
Is a Chapter 13 bankruptcy better for your credit score?
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...
4 ways to rebuild your credit following a bankruptcy
Struggling with your finances makes everything harder in your life. You may feel like you can never relax or even answer your phone without worrying about who’s on the other end of the line. You may feel like choosing bankruptcy will make you look like a failure, but...
Facing bankruptcy and divorce? Which should you deal with first?
If financial problems have contributed to the breakdown of your marriage, you’re certainly not alone. Financial stressors like job loss and debt are among the leading causes of divorce. If your future looks like it’s going to include both bankruptcy and divorce,...
Is any refuge safe from debt collectors? Not anymore
When your debts have spiraled out of your control and you can’t even make the minimum payments on all your bills, you quickly learn to dread the sound of your phone ringing. You aren’t so thrilled to see the mailman arrive, either. Every call and letter seems to bring...
Here is why personal bankruptcy filings are down in the U.S.
The American economy remains troubled at the beginning of 2021. Millions are unemployed, and it is not clear when they will be allowed to return to work. Without a regular income, except possibly unemployment insurance, their credit card debt may be spiraling out of...
