Most people have never heard of “involuntary bankruptcy” until it happens to them. Unlike the more common voluntary bankruptcy, where a person or business is seeking to discharge or restructure their debts, involuntary bankruptcy is initiated by creditors. That...
Bankruptcy And Debt Relief
Planning for discharge of your bankruptcy
Realizing that you don’t have control of your finances is a scary thought. You’ll have to try to find a way to get the creditors taken care of or you face years of collection attempts. It’s imperative that you consider all your options so you can enjoy a fresh...
What you need to know if you’re considering bankruptcy (again)
Maybe you filed for bankruptcy years ago after you let your credit card debt get out of hand. You learned your lesson and swore you’d never let yourself get in that much financial trouble again. However, the last couple of years have been uniquely tough. Maybe your...
What are the 3 big differences between Chapter 7 and 13 filings?
Individuals and businesses can potentially file for bankruptcy. Individuals dealing with overwhelming amounts of personal debt often choose between a Chapter 7 bankruptcy and a Chapter 13 filing. Trying to determine which form of bankruptcy would work better requires...
Bankruptcy: Can I keep my business?
Bankruptcy is a daunting prospect for anyone, particularly if it involves the potential loss of a business. However, does bankruptcy always lead to business owners having to liquidate their assets? In truth, the answer will vary depending on the circumstances of each...
At least 18% of Americans are struggling with medical debt
There is no disagreement that health care in America is expensive. If you suddenly have a serious injury or illness and need emergency care, that care could cost thousands upon thousands of dollars. The Journal of the American Medical Association completed a study...
Must I lose my home if I file for bankruptcy?
One of the biggest fears of anyone who files for bankruptcy is that they are destined to lose their homes in the process. While in some cases, it is indeed possible to lose your home due to bankruptcy, that is far from a foregone conclusion. Because carrying a heavy...
How to decide whether to pursue debt consolidation or bankruptcy
Mounting debt can be an overwhelming experience. You might find yourself needing to select between two less-than-attractive options: debt consolidation or filing bankruptcy. Both of these debt relief options carry with them their own host of pros and cons. Learning...
The top 10 causes of bankruptcy
Bankruptcy can happen to the most reckless spenders and the most cautious savers. It often has very little to do with the financial decisions any one person made. There are usually factors that are outside of your control that help to cause a bankruptcy filing. To...
What is the “automatic stay” in bankruptcy?
For most people, owing money is a very stressful thing. You might stay up at night trying to make the budget work so you can pay off the debts. There are some instances in which it just isn’t possible. When that happens, you may consider bankruptcy. One of the...