Preconceived ideas about the people who file for bankruptcy persist. Some know-it-alls may insist that this group has a gambling or substance abuse problem. They may gossip about this person being a “no-good bum” who fails to seek work or has a costly mistress on the...

For many people, the word bankruptcy conjures images of financial hardship. However, bankruptcy is not the cause of someone's financial struggles but rather the solution to issues with personal debt. Yes, bankruptcy has a short-term negative effect on your credit...

You and your spouse have lived in the same home for a decade. You have two kids together, and they’ve grown up in that house. It’s a place of comfort and stability for all of you. The children have never considered living anywhere else or thought about having to leave...

When hard times hit, and you are facing insurmountable debts, declaring bankruptcy may seem like the most sensible thing to do. Bankruptcy is a legal process that provides debt relief for businesses and individuals who cannot pay their debts. However, it is important...

Bankruptcies in the U.S. had slowed down in 2021, but they are set to grow in 2022. It’s believed that higher interest rates, as well as sustained inflation, could play a role in Chapter 11 filings making an appearance during the middle of 2022. In 2021, the United...

Many consumers who go through bankruptcy have a natural fear of winding up head-over-heels in debt again. They may be so keen to avoid a debt overload that they fear even applying for a single credit card. After all, for many debtors, it was those plastic cards with...

There are times when someone may start a bankruptcy case and then come into money or find that they are able to repay what they owe. Perhaps they get a new job, or maybe they’re able to work out a resolution with a credit card company or lender that they didn’t...

After a steady rise in credit card debt for eight years throughout the country, that debt dropped last year. Experts say that the combination of less spending, government relief efforts that allowed people a breather from their student loan and mortgage payments and...

Most people struggling with debt were financially responsible for most of their lives. It really only takes one medical emergency to put someone in a difficult financial position. One car crash caused by an uninsured driver, one cardiac event that forces you to take...

Some 45 million Americans owe a combined $1.7 trillion on their student loans. For many people considering bankruptcy, the strict limitations placed on the ability to discharge their student loans has been highly frustrating. Currently, they have to prove that their...