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...
Learning that you have a wage garnishment is traumatic because you count on the money that you earn to support yourself. Once you learn of this, your thoughts will likely turn to how to get it to stop so you can keep the money you need. One option that might work for...
There are multiple reasons why people might pursue a Chapter 13 bankruptcy instead of a Chapter 7 personal bankruptcy. While Chapter 7 bankruptcy is the fastest option, it also leads to major losses for some people with overwhelming levels of personal debt. In a...
The stigma associated with bankruptcy is a strong deterrent for the average person. They believe that bankruptcy is only for irresponsible people or unethical businesses trying to avoid personal responsibility for prior bad decisions. In reality, bankruptcies are...
It is a common misunderstanding that someone who files for bankruptcy will forever have financial limitations afterward. People delay or decide against filing at all because they think that they won't be able to buy a house or even use credit cards. In reality, while...
Anyone can end up in a financial position where they need to consider bankruptcy. Whether you’re working as a CEO or you have a minimum-wage job, there can be problems that arise in your life, like a serious medical condition or job loss, which could change everything...
When people think of bankruptcy, Chapter 7 proceedings are often what they imagine. They think about people asking the court to discharge their debts because they can't pay them back. However, liquidation bankruptcy is only one kind of proceeding. There are multiple...
Realizing that you may need to file for bankruptcy is often only the first of multiple difficult decisions. After that, you will have to decide what kind of bankruptcy you file. The different chapters of bankruptcy help people in different financial circumstances. ...