Millions of people are in debt. You may be in debt because of credit card purchases, medical bills, student loans, high interest rates or late payments. These debts can be stressful and greatly impact your living. If you can not make these payments on your own, you...
If you are in financial distress and contemplating filing for bankruptcy, you may be wondering if there is a debt threshold required to initiate the process. Must you accumulate a specific amount of debt to qualify? The short answer is no; there is no minimum or...
Debt comes in many forms. You may have built up a lot of credit card debt when you were younger. Maybe you took on student loans. Or, you could have suffered from an injury that caused massive amounts of medical debt, which could not be paid off because your injury...
Medical debt is one of the top reasons for bankruptcy, and it shows up in most cases. It may not always be the primary cause or the only cause. Someone may have medical bills, student loans, credit card bills and a home mortgage, for example. But medical expenses are...
When contemplating bankruptcy as a solution to overwhelming debt, individuals often find themselves questioning whether they should file for Chapter 7 or Chapter 13 bankruptcy. While Chapter 7 might initially seem appealing due to its ability to discharge eligible...
One reason that people sometimes shy away from bankruptcy is because they’re worried that it will mean they can’t get a loan again. They may have plans for their future that include taking out a mortgage loan to buy a home or using an auto loan to get a new car. They...
Bankruptcy plays a significant role in addressing financial challenges, particularly in garnishments and foreclosures. When an individual files for bankruptcy, an automatic stay is immediately implemented. This stay halts most collection activities, including...
Bankruptcy is a process that can help you relieve large amounts of debts related to credit cards, medical fees and other financial situations. While bankruptcy may not be your first option, it may be the only feasible option in the end. If you’re unsure if bankruptcy...
Filing for bankruptcy often carries a stigma, a sense of personal failure or financial irresponsibility. However, this perception is almost never grounded in reality. At its core, bankruptcy is a legal tool designed to provide individuals and businesses with a fresh...
Once you file for bankruptcy, your focus should turn to learning how to live without credit. Throughout the bankruptcy process, you’ll have to rely solely on the household income to pay bills. Navigating the financial waters of bankruptcy can be intimidating and...
