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...
Bankruptcy And Debt Relief
How bankruptcy exemptions can help protect your assets
Bankruptcy exemptions allow you to protect your assets when filing for bankruptcy. When you are overwhelmed by debt and facing bankruptcy, exemptions offer a way to retain certain assets and safeguard them from being included in the bankruptcy estate. Here, you can...
Why do some people fear bankruptcy?
For some people, the term “bankruptcy” is one of the scariest words in the dictionary. Bankruptcy allows businesses and consumers to manage their debts through a court proceeding. Since many individuals fear bankruptcy, they do everything possible to avoid it. Below...
Why bankruptcy might benefit you
When you’re struggling with finances, you may feel isolated. You may also feel guilty because you are unable to honor agreements. These are normal feelings under the circumstances, but you are not alone and there is no need for guilt. Millions of Americans are...
3 strategies to save your home from foreclosure
For most people, a home is more than just a physical space. It’s a place where they feel safe, where they build memories, and where they can raise their families. However, financial hardship can put this sanctuary at risk. Foreclosure is a terrifying prospect,...
2 reasons people with medical debt decide to file for bankruptcy
Bankruptcy is a common response to overwhelming medical debt. People can accrue tens of thousands of dollars in medical debt in just a few days of intensive trauma care. Those who require treatment for cancer or other severe medical issues could have hundreds of...
Common reasons why bankruptcy claims are denied
The vast majority of bankruptcy petitions go through the court process quickly and easily – but a few do hit some snags. If your bankruptcy petition is denied, however, that can create financial chaos on top of an already difficult situation, so it’s important to...
Are you allowed to file for bankruptcy more than one time?
Filing for bankruptcy allows you to get a fresh financial start and eliminate the stress and burden of accumulated debts. Once the process is complete, you may think you won’t have similar financial issues in the future. Unfortunately, life is anything but...
Talking with creditors can give your business a fighting chance
Most entrepreneurs have to deal with cash flow issues at one point in their lifecycle. Unfortunately, this often leads to a daily struggle of following outstanding payments and juggling creditors. Eventually, you may find yourself missing financial obligations to your...
Options to address a more complex bankruptcy case
Bankruptcy doesn’t always happen for just one reason. It’s not as if someone takes out a loan, can’t pay it back, and suddenly has to declare bankruptcy. There are usually a lot of different factors that all contribute, and the overall financial situation can be very...