Bankruptcy

If you are contemplating filing for bankruptcy, you may wonder what happens to your debts when your bankruptcy is finalized. They don’t magically disappear, unfortunately. Your creditors are the ones who must absorb the hit. The good news is that most business models...

People talk about vehicles like they are a luxury and driving like it is a privilege, but driving and vehicle ownership are essentially necessary for professionals and those trying to support a family. Losing your vehicle could cause a ripple effect that impacts...

Often, debts are portrayed as something that can only happen to those who are reckless with their finances. However, this is certainly often not the case. In reality, many successful businesses operate with a number of different overheads, as well as small debts, much...

People often dread opening the mailbox or answering the phone if they know that they owe someone money. Creditors have used those two contact methods as the primary options for a long time. A new law lets them do even more. Creditors can now send text messages or...

If you file for bankruptcy, one of the questions you might have is if a vehicle you cosigned on will be lost as a result of your bankruptcy filing. If you cosigned on a vehicle for your child or a friend, you may worry that your bankruptcy will mean that they lose a...

There are many reasons that people fall into bankruptcy, and most of them don't have anything to do with making financial mistakes. Instead, people end up filing because of job loss, wage reduction, or medical expenses, just to name a few of the most common reasons....

Allegations of racial biases have affected many different areas of life in this country -- and the courts are no exception. Just the same, there is one thing that you may not have seen coming. A new study indicates that racial biases may be in play even in bankruptcy...

Credit cards occupy an interesting financial position. Originally, the idea was convenience. You could quickly get a “loan” when you needed money, and you just paid it back at the end of the month. You didn’t have to use a card if you didn’t want one, but it could be...

Bankruptcy can be your last resort when your personal debt levels are out of control. When you file for bankruptcy, an automatic stay will temporarily protect you from collection activity. If the entire process goes well, the courts will eventually discharge the...

When you file for personal bankruptcy, you can choose between two options. Provided your income is low enough, you could go for Chapter 7. If you earn too much to pass the means test, or if you prefer, you could opt for Chapter 13 instead. Chapter 7 can be appealing...