Don’t Let Financial Problems Dominate Your Life
The decision to file for bankruptcy is one that usually is not made easily. Most people wait until they’ve exhausted all other options. If you’re considering taking the steps to file for bankruptcy, it is critical to ensure that you understand exactly what this means...
People often turn to bankruptcy during financial emergencies. If they cannot afford their financial obligations and face aggressive collection efforts, they may consider bankruptcy. Foreclosure can lead to people losing their homes if they fall behind on payments....
Before you can file your Chapter 7 bankruptcy petition, you must first qualify for filing under that chapter. Think of the means test as the dividing line between those whose indigence prevents them from meeting their financial obligations and those who simply don’t...
If you’re married and struggling with debt, deciding whether to file for bankruptcy alone or jointly with your spouse is a big decision. You might be concerned about protecting shared assets or how filing will affect your credit scores. The answer depends on your...
Income taxes consume a significant portion of an individual's earnings each year. In cases where people have multiple streams of income, pay their own taxes as self-employed professionals or have other complicating tax return factors, taxpayers may unintentionally...
When someone lives paycheck to paycheck, they may feel relatively stable in a financial sense. They can pay their bills and make ends meet. But they must receive that next paycheck to do so. A disruption to their earnings, such as job loss, could mean that they are...
Last year, we shared the positive news that the Consumer Financial Protection Bureau’s (CFPB) was issuing a new rule to put an end to including a person’s medical debt on their credit reports. The intention was to keep this debt from impeding their ability to get...
Chapter 7 bankruptcy can offer individuals and married couples who are struggling with overwhelming debt a chance to eliminate most of their unsecured debts and to benefit from a fresh financial start. However, not everyone qualifies for Chapter 7, so if you need a...
Bankruptcy is a legal procedure that provides debtors a new beginning and alleviation from creditors. The stigma surrounding bankruptcy has promoted stereotypes of irresponsibility; however, numerous Americans encounter bankruptcy due to unforeseen crises, such as...
With Chapter 7 bankruptcy, all debt is typically not repaid. People just liquidate their non-exempt assets. However much money this creates is used to pay back a portion to creditors. But the rest of the assets are exempt, so there are no more funds, and the remaining...