Don’t Let Financial Problems Dominate Your Life
People sometimes avoid filing for bankruptcy because they are concerned that it is going to be a mistake. It’s going to have negative ramifications, such as reducing their credit score or making it impossible for them to get a loan. They may worry about losing certain...
Discussions about bankruptcy and popular media often reflect outdated stereotypes. For example, people often talk about credit card use and frivolous spending as leading causes of bankruptcy. However, mainstream media outlets have started to notice a trend in who...
There are many misconceptions about financial hardship. For example, a common myth is that everyone in debt has spent recklessly. The unfortunate reality is that tens of millions of Americans are currently struggling to get by financially. When faced with debts,...
Filing for bankruptcy will negatively impact your credit score, making it challenging to obtain credit or get favorable interest rates for a time. This can have significant implications for your financial future. Fortunately, you can take steps to rebuild your...
Filing for bankruptcy is a complex process that can provide much-needed relief from overwhelming debt. However, making mistakes during this process can lead to severe consequences. Here are some common mistakes to avoid when filing for bankruptcy. 1. Failing to...
Losing your job at a time when you have an overwhelming amount of debt that you’re repaying can quickly turn your financial situation from bad to worse. Suppose you’re behind on your mortgage payment; the financial strain can trigger fears of losing your home. The...
Declaring bankruptcy has had a negative connotation for years. Historically, society has viewed people who filed for bankruptcy as "irresponsible." And this stigma has caused many people who deserve a fresh start to miss out on their constitutional right. Yet, since...
Social stigma around bankruptcy makes many people delay filing for bankruptcy when they might otherwise benefit from financial relief. People struggling with high levels of debt or a sudden drop in their household income may not be able to correct their financial...
From many different important metrics, the U.S. economy has been doing well lately – but the experience of the average consumer isn’t necessarily reflective of that perspective. In general, housing costs are soaring, fuel costs have stayed elevated for a while and...
For most people, saving for retirement is a career-long effort. Unfortunately, if you face financial struggles, you may wonder whether that savings is in jeopardy. Will you have to use your retirement savings to pay your debts? Is bankruptcy an option in your...