Even with the Affordable Care Act (ACA), which has helped many uninsured Americans get health insurance, medical debt is still the most common type of debt that goes into collection. It also shows up on credit reports, which can affect virtually every aspect of a...
debt relief
What’s a mortgage forbearance?
There’s no question that times are a little bit rough right now between a job market that seems unstable and soaring inflation. It’s not unusual for homeowners to be feeling some financial strain when it comes to meeting their mortgage obligations. Is a mortgage...
Don’t be ashamed: Debunking the stigma around bankruptcy
Filing for bankruptcy is almost never a mark of shame. In reality, it's a legal tool designed to offer a fresh start to those facing overwhelming debt. Nevertheless, despite its benefits, many people tend to overlook bankruptcy due to the strong stigma traditionally...
3 steps for rebuilding credit after a bankruptcy discharge
People who file for bankruptcy know that doing so will negatively affect their credit for a time. Additionally, a personal bankruptcy filing leads to the closure of revolving lines of credit the same day that someone files. The average person's credit score takes a...
What is the automatic stay in bankruptcy?
One of the most disheartening events for a person drowning in debt is dealing with collection attempts from their creditors. Some individuals may file for bankruptcy, which can provide financial relief. As part of the bankruptcy, the court issues an injunction known...
Is it easier to clear student loans via bankruptcy than before?
If you have debts you cannot pay, then there is a good chance that student loans make up part of your overall financial challenges. It’s true for vast numbers of people across the country. Traditionally, student loan debt was incredibly hard to discharge through...
Medical creditors can be very aggressive toward patients
The medical system in the United States offers access to treatments that can save or improve people's lives. From cutting-edge cancer care to emergency trauma intervention, the care available can make a big difference for individual patients. Unfortunately, high...
Two things to know before filing for relief through bankruptcy
Although business bankruptcy filings dropped slightly last year, the government reports that bankruptcy filings for individuals increased significantly. The courts received over 300,000 bankruptcy filings for 2022 and the rate of Chapter 13, or reorganization of debt...
Can I use bankruptcy to discharge my student loan?
Most careers require a college education, but not many Americans can afford the price tag. And this is where student loans come in to bridge the gap. Financial institutions provide student loans because beneficiaries are likely to have to capacity to secure employment...
2 things that might happen if you ignore your debts
You might want to realign your viewpoint if you think you are one of only a few struggling with overdue debt. In reality, about millions of other Americans are in a similar situation. To those who lack the resources to pay their debt, it is tempting to ignore the...