Bankruptcy is a rising trend, but what is it? Bankruptcy is a court-ordered process that may allow people to resolve their debt obligations. Commonly, people choose these two kinds of bankruptcy: Chapter 7: a liquidation process that assigns a trustee who sells a...
You determine that your debt is unsustainable, and it’s holding you back financially. You simply don’t earn enough money to ever pay off all of the debt, so the interest keeps compounding. You want to get a fresh financial start, so you consider Chapter 7 bankruptcy....
Chapter 7 bankruptcy is a relatively fast and aggressive way to handle unsecured debt. In successful cases, people can go from their initial filing to their discharge in a matter of months. However, before the courts will grant the discharge of someone's eligible...
Financial issues have begun to become very serious for a lot of people across the United States, with rising costs, inflation and perpetually low wages. As such, you may not be surprised to find out that bankruptcy filings have been rising. The statistics for 2023 are...
There are often some negative stigmas surrounding bankruptcy. For example, some people may be worried about the social stigma and perceive bankruptcy as some type of failure, and this can keep them from filing if they are the type of person who is excessively worried...
Do you have debt that’s so heavy it’s affecting your peace of mind? You probably thought about filing for bankruptcy, specifically Chapter 7 bankruptcy. Chapter 7 bankruptcy deals with asset liquidation to tackle debts like medical bills and credit card balances....
Bankruptcy can help someone stop collection activity and discharge debts that they cannot hope to repay, but people will often go to extreme lengths to avoid filing for bankruptcy. One of the most intimidating aspects of filing for personal bankruptcy is how it will...
The decision to declare bankruptcy is one that you should never take lightly. If you get it right, bankruptcy can provide relief from certain kinds of debts or allow you to restructure a payment plan that suits your current financial situation. However, it is not...
If you’ve been struggling with finances recently, you know this can be very stressful. You may feel like you don’t have many options, but you probably do. One thing you may want to consider is negotiating with creditors. This can take time, patience and preparation,...
People generally pick one of two options when looking to relieve outrageous debt: Chapter 13 bankruptcy or Chapter 7 bankruptcy. Chapter 13 bankruptcy is a refinance plan that may negotiate how much debt someone needs to pay off. This is beneficial for people who have...
