When filing for bankruptcy, the court usually issues a discharge. A discharge means you are no longer responsible for certain debts (there are exclusions to what debts are included). This is the desired outcome; however, there are situations where a discharge may be...
debt relief
What are “zombie” debts?
If you’re behind on your bills, you’re already aware that collectors will hound you as much as they legally can – and some don’t seem to care about violating the law. The debt collection industry has a sort of internal hierarchy, and at the very bottom are so-called...
Reasons your bankruptcy discharge may be denied
If you plan to file for bankruptcy, you will likely seek a discharge from the court. When a discharge is ordered, it means you no longer have to pay specific debts. While this is beneficial, there are situations where the court may deny the discharge. Why the court...
3 tips for overcoming the emotional effects of bankruptcy
Realizing that you have debts you can’t pay is disheartening, but there are times when you can’t squeeze more money out of your budget. Trying to take control of your finances can be a challenge when you’re going through this. For some people, filing for bankruptcy is...
Two top causes of U.S. bankruptcies
The thing about the American dream is that it does not come without effort and expense. To obtain your version of this dream, you probably accrued considerable debt. Unfortunately, a downturn in the economy or a sudden illness can erase all the work you put in to...
3 things to help you overcome holiday debt
The holiday season means trying to get gifts for your loved ones. This can become an expensive endeavor. Some people rely heavily on credit cards to make this possible. Once the holidays are over and those credit card statements start coming in, it might become...
Can you spend money during bankruptcy?
You’ve never declared bankruptcy before, but you finally made the decision to do it. You know that it’s going to help you because you need to clear up some of these debts so that you can have a successful financial future. When you mention to someone else that you’re...
What kind of judgments can be discharged in bankruptcy?
If you’re considering filing for bankruptcy to get out from under a mountain of debt, it’s critical to understand what kinds of debts can and cannot be discharged in bankruptcy. One area that can be confusing is legal judgments. There’s no one answer to whether a...
Debunking 5 myths about bankruptcy
People often spread rumors about bankruptcy because they don’t always understand what it means. Because of this, bankruptcy gets a bad rap, which can cause the people who need it most to bury themselves in debt. Making the most informed decision sometimes means...
3 disturbing health effects of credit card (and other) debt
Did you know that your debt might make you ill? The link between debt and psychological health is widely known, but it can also affect your physical health as well. No one ever expects to end up in debt, but it happens to those from all walks of life, from the poor to...