Declaring bankruptcy can significantly affect one's mental health. However, this is usually overlooked, as most people focus on financial effects. While the latter consequences are serious, it's vital to also take into account the emotional effects of bankruptcy,...
Bankruptcy And Debt Relief
Is bankruptcy your own fault? Probably not
People are sometimes hesitant to file for bankruptcy. They do have overwhelming debt. Bankruptcy could eliminate some of that debt or re-organize it into an affordable monthly payment. But they still don’t want to use this legal process. The reason they will sometimes...
2 ways you can you prepare to file for bankruptcy
Are you facing a risk of foreclosure on your home, getting hounded by creditors or feeling overwhelmed by debt in other ways? If you are, then bankruptcy might be the answer you are looking for. Filling for bankruptcy shouldn’t feel like a shameful thing to do; it can...
Can you still get a personal loan after bankruptcy?
You might think it cheeky to ask for a loan soon after going bankrupt. You might assume lenders will dismiss you out of hand. However, that’s not the case. While some will certainly say no, some will take a more lenient view. Some lenders specialize in this market....
When might filing for bankruptcy be a good idea?
Filing for personal bankruptcy is a significant decision that can result in long-lasting financial and emotional impacts. It's often viewed as a last resort, but in certain circumstances, it can offer a much-needed fresh start. Understanding when it might be a good...
Boosting your credit score post-bankruptcy
Millions of people in the U.S. are currently struggling to make ends meet. For some, there is just no feasible way of paying back the debts they owe. In such instances, bankruptcy may be the best option. Bankruptcy allows individuals to write off some debts or at...
The distinction between Chapter 7 and Chapter 13 bankruptcy?
In financial management, bankruptcy can be a daunting but necessary option for individuals and businesses facing overwhelming debt. If you’re considering bankruptcy, it’s crucial to understand the key distinctions between Chapter 7 and 13 bankruptcy. Breaking down...
Does bankruptcy still carry a big stigma?
Some people who should declare bankruptcy avoid doing so because of bankruptcy stigma. Bankruptcy can be associated with failing or shame, and in turn, one may choose to be in debt, dealing with endless calls from creditors and potentially facing lawsuits. This guide...
How long will a discharge show up on someone’s credit report?
The ultimate goal of a bankruptcy filing is the discharge of someone's unsecured debts. While many people time their filings to benefit from the protection of an automatic stay in ways that will halt aggressive collection activity, the main benefit that most filers...
4 mistakes to avoid before filing for bankruptcy
Filing for bankruptcy is a significant decision that can provide relief and a fresh start if you face overwhelming financial challenges. However, it's crucial to approach the process with caution and avoid certain blunders that could prevent you from making the most...