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If you need to pay child support but lack the finances to do so, you may be in a challenging spot. You want to take care of your child, but certain circumstances are affecting your ability to do so. In such an instance, you may decide to file for bankruptcy. Will...
Bankruptcy is a form of emergency financial protection. Individuals who are struggling with debt can ask the courts to temporarily stop collection activity and to discharge some of their unsecured financial obligations. Despite how common bankruptcy actually is,...
It seems like costs are constantly increasing lately. Everything is becoming incredibly expensive. Some people have seen increased wages, but, for most, wages have remained stagnant. This means that the increase in costs could spur an increase in corresponding...
Some people file for bankruptcy because they face very aggressive collection activity, but other people simply need to discharge their debts to make their family budget a sustainable reality. For many professionals, student loan debt is often the most significant...
When someone has high levels of credit card debt, they have to worry about their budget every month. It may be a struggle just to put together the money necessary to make mandatory minimum payments on each of their accounts. Oftentimes, those who start falling behind...
The automatic stay is a crucial aspect of bankruptcy proceedings, offering temporary relief to debtors by halting most collection actions against them. This means that creditors can’t call you, mail bills to you or do anything else to try to collect money from you...
There are numerous benefits associated with the process of filing for bankruptcy. For example, the automatic stay can halt creditor action, wage garnishment and foreclosure. And the discharge of a filer’s debts can allow them a chance at achieving a strong financial...
People typically file for bankruptcy when debt becomes unmanageable. Bankruptcy is a process that allows people to relieve large amounts of debt. Medical debt, credit card debt, late payments, past-due utility bills and business debts are usually all covered under...
Certain bankruptcy protections go into effect upon filing paperwork with the court. For example, the automatic stay that pauses collection activity takes effect the same day that someone files their initial case. However, a discharge of their unsecured debts won't...
Despite your best financial conduct, debt can come back to haunt you after a successful bankruptcy. A sudden medical emergency or damage from a natural disaster might drain your income and any funds you’ve managed to save. Since you have already completed a chapter 7...