Bankruptcy

A personal bankruptcy case is one of the most serious credit blemishes possible. The courts typically advise the credit bureaus of a pending bankruptcy case the same day that a person files. Their score may drop by as much as 200 points if they had previously managed...

Even responsible, successful adults can find themselves suddenly facing financial hardship. Job loss, medical issues or divorce can leave people unable to pay their bills and struggling to manage financial obligations. Those with below-average income over the last six...

For many people, mounting debt can feel like an impossible burden. If you are struggling but still have a steady income, Chapter 13 bankruptcy can be a practical path forward. It is often called a reorganization bankruptcy because it allows you to create a structured...

Since your divorce, you have been making child support payments. You do have custody rights, but you generally see your child only on the weekends. Your former spouse earns less money and spends more time raising the child, so you were ordered to pay support as a...

Having more bills than you have money each month can be a difficult situation. Sometimes, it’s necessary to explore your options for dealing with this type of financial difficulty. One of those options might be filing for bankruptcy, which can provide you with a fresh...

When filing for bankruptcy, people sometimes lament their credit card debt. They may have found themselves in a difficult situation where they had to make extensive charges on that credit card, and it contributed to their overall debt. It’s part of the reason that...

With Chapter 7 bankruptcy, it’s clear that the benefit is eliminating your debt. You do have to liquidate some non-exempt assets to do so. Creditors may get partial payments based on this liquidation process. But after that, other debts will be forgiven, and you get a...

Debt is a growing concern for millions of Americans; many people struggle to keep up with financial obligations due to unforeseen circumstances. While some debt can be manageable, overwhelming debt can quickly spiral out of control. In such situations, bankruptcy can...

The general goal of filing for bankruptcy is to give you a fresh start financially. You clear your debts so that you’re not facing an overwhelming amount of monthly payments. You can then rebuild your credit score and continue earning to improve your financial future....

Filing for bankruptcy is a legitimate option for people struggling with debt. It provides an opportunity for a fresh start.  However, it is important to have accurate information before filing. For example, many people wonder if filing for bankruptcy clears all debts....