Topic
Bankruptcy
How Do You Know When It’s Time to File Bankruptcy?
Bankruptcy is one of many options available to people who are struggling financially. Whether it’s due to medical debt, credit card bills, job loss, decreased income or some combination of factors, bankruptcy can be a financial fresh start for those who really need it. But it’s also a complex legal process that should not be […]
Read MoreDebt Management Plans vs. Bankruptcy
When it comes to debt relief options, one size definitely does not fit all. People who are trying to get out of debt have varying levels of debt, income and resources, along with different financial aspirations and goals. So, what’s right for one person or family may not be right for someone else. Let’s look […]
Read MoreHow to Get Out of Debt Without Filing Bankruptcy
When people are struggling to pay off debt, their thoughts may naturally turn to filing bankruptcy as a solution. It’s understandable, since filing Chapter 7 can mean a discharge of most unsecured debts and Chapter 13 can result in having debts restructured into a more manageable payment plan. But bankruptcy should be a last resort, […]
Read MoreHow Do I File Chapter 13 Bankruptcy?
Chapter 13 and Chapter 7 are the two most common types of consumer bankruptcy. While Chapter 7 leads to the discharge of most unsecured debt, Chapter 13 bankruptcy is different. Rather than discharging debts, it restructures them into more manageable payment plans designed to be paid off in three to five years. In some cases, […]
Read MoreHow Do I File Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is the most common type of consumer bankruptcy. This legal process provides a financial “fresh start” by discharging most or all of a person’s unsecured debts, such as credit card debt and medical debt. However, it does not eliminate other types of debt such as student loans, back taxes or court-ordered spousal […]
Read MoreCommon Questions About Bankruptcy
For people with an overwhelming amount of debt or those who are having trouble paying their bills every month, declaring bankruptcy can be the beginning of rebuilding their financial lives. But it’s also a complex, often misunderstood legal process that can have long-term effects on a person’s finances. Let’s review some common questions about bankruptcy. […]
Read MoreHow Many Times Can You File Bankruptcy?
Bankruptcy filings dropped during the height of the pandemic, but they are rising once again. A cost-of-living crisis and the looming threat of a recession have Americans heading back to bankruptcy court, with filings approaching pre-pandemic levels. For many people, it’s their first time declaring bankruptcy. But others have been down that road before. That […]
Read MoreWhat Are the Alternatives to Bankruptcy?
Personal bankruptcy filings are up year-over-year. Continuing inflation, persistent talk of a recession and layoffs in certain sectors are leaving some Americans feeling like bankruptcy is the only path to a financial reset. But it’s not that simple. While bankruptcy may be the right solution for some people, it’s not the best choice for everyone […]
Read MoreHow to Rebuild Your Finances After Bankruptcy
Although declaring bankruptcy can provide relief from the worries of unmanageable debt, many consumers wonder when and if they will be able to secure new credit at reasonable rates. Your credit report will reflect the consequences of bankruptcy for 7-10 years. But that doesn’t mean it will take that long to rebuild your credit. Fortunately, […]
Read MoreDo You Believe These Myths About Bankruptcy?
During financially uncertain times, it’s understandable that consumers become curious about declaring bankruptcy. For certain consumers with high levels of unsecured debt, bankruptcy can ease the constant worry of how they’re going to pay bills and can be the beginning of gradually rebuilding a solid financial foundation. But one of the persistent myths about bankruptcy […]
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