People end up in personal debt for many different reasons. Some people get hurt in a car crash and have major expenses. Others might lose their job when the company where they work lays off dozens of people at once. Many people struggling financially have lived...
Bankruptcy
Which one should be filed first, bankruptcy or divorce?
The intersection of financial hardship and strained relationships often leads individuals to a critical juncture: the decision to file for bankruptcy and/or to file for divorce. Financial troubles can strain even the strongest bonds. Communication is key during these...
Will bankruptcy affect your child support payments?
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...
3 common reasons that people end up filing for bankruptcy
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,...
Why is everything getting so expensive?
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...
Can people discharge student loans in bankruptcy?
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...
3 reasons debt settlement isn’t always the best option
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...
3 things to know about the automatic stay in bankruptcy
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...
Rebuilding credit post-bankruptcy
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...
Can you file for bankruptcy again?
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...