Bankruptcy

Bankruptcy is a subject that is still surrounded by stigma. There is a misconception that people who pursue this avenue have always been careless with money. This is simply not true. While reckless spending can cause financial trouble and it is a factor in some...

There are multiple reasons why someone might choose to pursue a Chapter 13 bankruptcy instead of a Chapter 7 filing that would produce a faster discharge. They may earn too much money to qualify for Chapter 7 proceedings or worry about the risk of asset liquidation....

Getting into debt can be easy, but getting out of it isn’t. However, to get out of debt, you have to make some changes, including your spending habits.  Formulating a solid plan to address your debts is a great first step, but there are some pitfalls that you should...

When debt becomes too much to handle, many individuals and businesses file for bankruptcy. Though there are six types of bankruptcy, the two most common ones — which target consumers — are Chapter 7 and Chapter 13. Chapter 7 deals with asset liquidation, and Chapter...

When their debts are spiraling out of control, many homeowners worry about protecting their homes from foreclosure. A lot of times, a temporary bump in the financial road can lead to missed mortgage payments – and that can be a lot to catch up, even once you have...

When people go through bankruptcy, they sometimes have the opinion that credit cards are responsible for that bankruptcy and therefore should be avoided. They may have had to cancel all their credit cards during the case, and they swear that they’ll never get them...

People file for bankruptcy every day to get out from under a mountain of debt and get a fresh financial start. If you’re considering this move for yourself, you may prefer that no one knows who doesn’t have to. We all have a right to some financial privacy. When...

Many people hear about how other people and companies file for bankruptcy but don’t know what bankruptcy is themselves. In general, bankruptcy is a way for people to deal with tons of unpaid debt that might be impeding their life. There are a few different kinds of...

Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) as part of an overhaul to the bankruptcy process in the United States. It can be seen as a double-edged sword because it includes protection for both creditors and debtors. BAPCPA...

If you’re facing foreclosure, you may be looking for ways to delay the process. You don’t necessarily need to stop it entirely. You just need to buy yourself a bit more time so that you can get your finances in order, and then you can get current on your mortgage...