Bankruptcy

People often work for years to achieve their goals of homeownership. They may need to improve their credit after youthful bad decisions. They likely need to save money for a down payment and closing costs. They must optimize their income so that they qualify for a...

There are several different types of bankruptcy available to both people and businesses. Those running successful businesses sometimes encounter temporary challenges. They may not want to pursue a Chapter 7 bankruptcy that could force the liquidation of company...

People can fall behind on a variety of different financial obligations. Some people accrue too much in credit card debt and then have a hard time making even minimum monthly payments. Others might end up sick or injured unexpectedly and may then face insurmountable...

There are several reasons that people struggling financially may avoid filing for personal bankruptcy. Even though they have to choose what bills to pay or face creditor lawsuits, they try to struggle through their economic hardship because they fear bankruptcy. Some...

Bankruptcy is often the last option that someone who is struggling financially considers. They may explore every viable alternative before bankruptcy becomes something they want to consider. Yet, when people realize that they have fallen too far behind on their debts...

Although people often think of bankruptcy as a process for those with minimal assets and income, even successful professionals may sometimes face financial hardship. One of the reasons there are different types of bankruptcy available is that people find themselves...

There are a variety of scenarios in which an individual may feel compelled to file for bankruptcy or business bankruptcy. An entrepreneur or business owner who has come to the realization that either restructuring their debt or closing down a business is likely their...

People who choose to file for bankruptcy may have any number of reasons for doing so. They may have simply reached a point where their budget won't balance, and they have begun to accrue over-limit or late payment fees that make their financial circumstances even...

People frequently commit a significant portion of their income every month toward their mortgages. Although a lot of that money goes toward interest, especially during the first few years, a portion of each payment sent to a lender will add to a family's equity in...

The word bankruptcy makes many people think of financial irresponsibility or business failures. However, if you were to sit in on bankruptcy court hearings, you might realize quickly that the people filing for bankruptcy don't fit the stereotype. In fact, a...