When you and your spouse got married, you carried a lot of debt with you. You had a good job, though, so you felt it was find to have that debt and that you’d be able to pay it down over time. When you suddenly lost your job and couldn’t find a new one paying as much...
Bankruptcy
Common questions about bankruptcy and credit card debt
Credit card debt can make it challenging for individuals to keep up with living expenses, especially when significant interest rates, fees and multiple monthly payments make it challenging to keep up with existing debts. Filing bankruptcy often solves many consumer...
These steps can improve your credit rating after bankruptcy
If you land upon hard times financially, the world can feel like a lonely place. The truth of the matter is that many people find themselves in this situation. You are certainly not on your own. Research suggests that millions of Americans are struggling to make ends...
Exempt and non-exempt property in bankruptcy
People who are in debt and can’t make the required payments on their bills will often wonder what they can do to get back on top of their finances. This is a scary place to be, but there’s an option that may help: Filing for bankruptcy. When you file for bankruptcy,...
Buying a vehicle after a bankruptcy conversion
A Chapter 13 bankruptcy takes a long time — three or five years, dependent upon your agreement with the bankruptcy court. In that time, your financial circumstances and also your needs can change dramatically. For instance, your five-year Chapter 13 bankruptcy...
4 ways an automatic stay can help you during bankruptcy
Once you file for bankruptcy, you activate the automatic stay that protects you from creditors and collection agencies. Although the automatic stay cannot help in all situations, here are four ways you can expect to benefit. 1. Ending foreclosure If your lending...
Could 2022 bring relief for those with student loan debt?
If you’re one of the millions of Americans with student loan debt, you’ve likely been keeping some eye on the machinations of power players in Washington, D.C. There’s been a lot of talk by the Biden Administration and some members of Congress about how to take some...
Is bankruptcy the best option for indebted senior citizens?
Older Americans mired in debt face many concerns. They want to retire but worry about burdening family members with extra financial obligations. For example, they do not want to force their children or grandchildren to support them when they can no longer work....
Can my employer find out about my bankruptcy?
While dealing with bankruptcy, you might wonder whether your employer can find out about your situation. In most cases, your employer will not be in the loop, although there are some exceptions. If the company you work for learns about your bankruptcy, it cannot fire...
Focus on positives when filing for bankruptcy
Opening the mailbox, checking your emails, and answering the phone can be stressful if you know you owe people money. You may dream about getting out of debt, so you no longer have to deal with that. When there are more bills than money available, filing bankruptcy is...