Bankruptcy will take a heavy toll on your credit score, at least initially. Most people report a three-digit drop in their credit score after filing, even if they remove a large collection of credit blemishes and replace them with one major negative mark commemorating...
debt relief
What are your options when facing wage garnishment?
Besides throwing your finances off balance, wage garnishment can also put you in an embarrassing situation. Depending on the terms of your employment, wage garnishment can also strain your relationship with your employer. If creditors are threatening to garnish your...
An automatic stay may help in foreclosure
If you’re potentially facing foreclosure, you may be searching for different solutions. You would ideally like to get caught up on your mortgage and be able to keep your home. You just don’t know if it’s possible. One potential option is to file for bankruptcy. When...
Statistics you probably don’t know about bankruptcy in America
U.S. residents cite many reasons for avoiding or putting off a chapter 7 or 13 bankruptcy. Examples include: They think it will worsen their circumstances They feel ashamed of their debt They still believe they will overcome their debt Bankruptcy costs too much...
Study: Medical debt is severely worse than assumed
For a long time, it's been well known that medical debt is a serious problem in the United States. With the way that the healthcare system is set up, even those who have insurance can get strapped with overwhelming debt. This can sometimes happen even with ailments...
4 mistakes to avoid when filing for bankruptcy
Millions of Americans file for bankruptcy every year. However, not everyone has a smooth process. Many make mistakes that end up derailing the entire process and, as a result, miss out on the potential benefits. If you are thinking of filing for bankruptcy, below are...
Signs you may be headed for bankruptcy
Financial freedom is a goal many Americans have. Unfortunately, millions of people across the country struggle with debt. Excess debt makes it hard to get by, but it can also put stress on your relationships. For many, bankruptcy gives them the chance to “start...
Can bankruptcy help prevent the repossession of a financed car?
You can break consumer debts into categories. The first includes unsecured debt, like hospital bills not covered by insurance or the balances on your credit cards. The second category includes secured debts, which are financial obligations secured by collateral...
Getting your credit score back up to speed
People facing financial hardship are still unjustifiably stereotyped at times. There is a common misconception that individuals only get into debt after they have spent recklessly. This could not be further from the truth. Millions of responsible and hard-working...
Student loans are hurting the economy
Student loan debt has skyrocketed over the last few decades, and it's causing all sorts of problems for borrowers. This starts with the fact that a lot of people are strapped with an incredible amount of debt as soon as they graduate, so not finding a good job...