There are many misconceptions concerning the topic of financial hardship, and one of the most common relates to reckless spending and credit card debt. While it is true that overspending can result in credit card debt, this isn’t always – or even commonly – the reason...
When considering bankruptcy as a potential solution for overwhelming debt in Texas, it is important to understand that not all debts can be discharged. Certain obligations, known as non-dischargeable debts, will remain the debtor’s responsibility even after the...
When people get into bad financial situations and their debts become overwhelming, bankruptcy can offer them a way out and a fresh financial start. What happens, however, if that fresh start turns out to lead right back down a path toward even more crushing debt? This...
Bankruptcy is a legally sanctioned process that allows individuals and businesses to restructure or eliminate their debts. However, filing for bankruptcy is often a deeply emotional process and people can sometimes try to avoid it for far too long. If you're in debt...
Individuals considering bankruptcy will usually file for either Chapter 7 or Chapter 13 bankruptcy unless they have a small business or run a family farm. Those with below-average income or few personal resources may choose Chapter 7 bankruptcy to benefit from a...
Chapter 7 bankruptcy offers the fastest path to the discharge of someone's unsecured debts. A Chapter 7 filer will not be subject to a repayment plan requirement. A Chapter 7 bankruptcy filing can protect someone from a creditor lawsuit and other aggressive collection...
If you’re considering filing for bankruptcy to get out from under crushing debt, you likely already know that a bankruptcy filing will affect your ability to obtain a loan or other credit for some time. It’s something you’ll have to ease back into – carefully – as...
Some people who go through a divorce file for bankruptcy at some point. Thus, these two processes may be related. Some factors from your divorce may push you to file for bankruptcy sooner or later in your new life. The following discusses how this can happen: The...
The thought of filing for bankruptcy can be scary and unpleasant, but that’s often because people have heard things about the bankruptcy process that are simply not true. You may feel better about filing for bankruptcy after debunking common bankruptcy misconceptions:...
Medical bills are very expensive in the United States. Those who do not have insurance could find themselves facing overwhelming debt almost immediately. But even those who have insurance could find out that it doesn’t cover the full costs, that some of the services...
