Bankruptcy

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...

There are several different personal circumstances that have a strong association with bankruptcy. Major illnesses and job losses can push people into financial insolvency. Divorce is another common experience that can leave people in need of financial relief. Those...

Facing financial challenges can be overwhelming and for some the idea of bankruptcy might feel embarrassing. However, recognizing when to consider filing can help you reclaim control and pave the way toward a fresh start. While bankruptcy may not be suitable for...

Subchapter V is a type of bankruptcy for small businesses facing debt problems. Unlike traditional Chapter 11 bankruptcy, which can be expensive and take a long time, Subchapter V is more straightforward and faster. To qualify, a business must meet specific rules,...

Bankruptcy terms can be unfamiliar and often misleading. However, if you’re considering filing for Chapter 7 bankruptcy, it’s crucial to know and understand the terms you’ll see, hear and read during the process. This can help successfully complete it and get a fresh...

Filing for bankruptcy is a complex undertaking. It may – very understandably – be difficult for you to fully wrap your head around a need to seek debt relief in this way. And if you have children, you may also be concerned about how to explain it to them. While you...

There is, unfortunately, a stigma around bankruptcy. This issue has persisted for a long time and continues today. People often view bankruptcy as a moral failing or as something that is entirely their fault. They may believe they shouldn’t file for bankruptcy because...

A person who’s dealing with collection attempts in any form may realize that their finances aren’t going to support being able to pay for everything. Trying to determine where to go from there is sometimes difficult. Bankruptcy is the option that some people lean...

Retirement should be a time to enjoy yourself after a lifetime of work. You invested your money well, so life should be smooth sailing from now on. But life doesn't always go as planned, and one major medical emergency could quickly drain your savings. Why are...

Credit cards and bankruptcy are often linked, but this relationship is more complex than it might seem. Credit cards can both hinder and help someone's financial situation, depending on how they are used. For instance, reports from earlier this year indicated that...