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Credit cards offer several benefits, including increased purchasing power, membership perks, building credit history and convenience. According to TransUnion, 500 million credit cards were issued by banks in the US in Q2 2022. This shows that many Americans use credit...
If you file for bankruptcy, it may mean that you can no longer apply for traditional credit cards. Lenders are going to be too concerned that you won’t be able to pay off the debt. This can cause your credit score to fall, and you won’t be approved for new cards....
Foreclosure means that the bank takes your house and will likely sell it to someone else. This happens when you haven’t paid your mortgage payments, likely for a number of months in a row. It usually takes a few missed payments to even trigger the process, and then it...
Chapter 13 bankruptcy is a viable option for those who don't qualify for Chapter 7 bankruptcy or who have valuable personal property that they would like to protect. There is no liquidation requirement in a Chapter 13 filing, which means you don't have to sell off or...
Many bankruptcy cases are the result of numerous different factors that are all working together. For instance, someone may already have been struggling to make ends meet due to their student loans. It may technically be their credit card debt that they can’t pay off,...
If you’re seriously in debt, you know the toll it takes on your lifestyle, your credit rating and even the ability to provide the necessities for yourself and your family. However, you shouldn’t minimize the effect that falling deeper and deeper into debt can have on...
Filing for personal bankruptcy will extend multiple, valuable protections to individuals and businesses struggling with debt. The act of filing leads to an automatic stay, which stops collection activity for a little bit. If the courts approve the bankruptcy filing,...
Thanks to the Affordable Care Act and other programs, more Americans than ever have health insurance. In fact, roughly 92% of people in this country now have coverage. So, why have half of all U.S. adults say that they have trouble affording their health care, with...
The majority of humans are capable of empathizing and many do have sympathy for those in less fortunate positions. Unfortunately, this isn’t always the case. People who fall on hard times financially are often stereotyped, particularly when they file for bankruptcy....
Filing for bankruptcy can help improve your quality of life, but only if you do everything right. Slip-ups are common, and not everyone enjoys the benefits of the bankruptcy process. Therefore, it is purposeful to learn how 1. Filing under the wrong chapter Should you...