If you find yourself drowning in debt and struggling to make your monthly payments, it might feel like you have no options left. However, Chapter 13 bankruptcy can provide a way to regain control of your financial life. Though Chapter 13 bankruptcy can give you some...
Bankruptcy
Can filing for bankruptcy resolve insurmountable medical bills?
A health crisis can quickly spiral into a financial disaster. If an individual or a family member falls seriously ill, caregivers might be forced to take time off work. Sometimes, this incident can lead to income loss or even job termination. With job loss often comes...
How filing for bankruptcy can eliminate creditor harassment
Creditors and collection companies that buy debts from others or get hired to collect on behalf of another party can become very aggressive when they want money from those who owe them. Although there are certain laws that creditors must follow, even compliant...
What is the income-based means test in Chapter 7 bankruptcy?
When you find yourself caught in a financial storm, you might consider Chapter 7 bankruptcy as a way out. But it is important to remember that not everyone can take this path without first passing the income-based means test. But what does this mean in Chapter 7...
When does Chapter 13 hardship discharge apply?
Filing for Chapter 13 bankruptcy can provide relief to individuals struggling with overwhelming debts. It offers a structured repayment plan to regain financial stability. However, even with the best intentions, unforeseen circumstances can arise. When a debtor faces...
When is bankruptcy a good idea?
As interest rates reach their highest levels in decades and inflation remains stubbornly persistent, American businesses feel the squeeze. The tightening of monetary policy has led to a surge in bankruptcy filings, surpassing the numbers in recent years. According to...
Why a single personal setback sometimes leads to bankruptcy
One of the most common misconceptions about personal bankruptcy is that the people who file are usually those who make irresponsible financial choices. Especially prior to the Great Recession of 2008, people tended to visualize someone who shops compulsively or has...
Can filing Chapter 7 help me with my medical debt?
Sudden illnesses and major accidents can lead to enormous medical bills and the inability to return to work. Unfortunately, the cost of health care can leave many people in debt with few or no options for repayment. Declaring bankruptcy could serve as a financial...
Residents of the ‘Diabetes Belt’ more likely to have high medical debt
It’s dangerously easy to gain severe levels of health care-related debt, thanks to the high cost of medical treatment in America. And for people with diabetes, the risk is very real. A recent report found that many people living in the so-called “diabetes belt” face...
The wage earner’s bankruptcy plan
Despite earning a stable living, your debts just seems to accumulate. Paying them in full, along with your monthly dues, is impossible. Declaring bankruptcy is not the easiest decision in the world, but it may be your only option. You may think that filing for...