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...

Many people lost their jobs last year. With job loss being one of the principal reasons people need to file for bankruptcy, it seems counterintuitive that the number of people filing for personal bankruptcy would decrease. Yet this is what United States Courts figures...

You’ve always been able to make your mortgage payments on time, but due to losing your job for a period of time and seeing changes in your income, you’ve fallen behind. This is completely normal and is something many people in America deal with. You may have survived...

Imagine taking the time to set up a Chapter 13 bankruptcy. You get yourself onto a payment plan that you can afford, and it’s going well. Then, you lose your job or suffer another financial blow, and it throws your finances into disarray. If you have filed for Chapter...

There are certain assets you need to take care of yourself and your family. You need to retain a place to live, for example, and enough furniture and clothing for your comfort and safety. You also need a vehicle so that you can get to work or take your children to...

If you are considering filing for bankruptcy, it might be prudent to act quickly. Declaring bankruptcy can stop a potential repossession, foreclosure or wage garnishment. Simply put: bankruptcy can offer much-needed relief when you are overwhelmed with debt.  By...

Do not buy into the idea that bankruptcy only happens to those who make poor financial decisions. This is a common myth, and it’s the reason a lot of people feel ashamed to even file bankruptcy -- or, at least, to tell people about it. They feel like it is an...

One of the concerns that many people have when considering filing for bankruptcy is whether their employer (or potential employers) will know about it. In most cases, they won’t unless you tell them. People who file for bankruptcy have protections under both the...