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Filing for bankruptcy can offer those struggling with debt a fresh financial start. However, there are some downsides to the process. Notably, filing for bankruptcy initially takes a significant hit on an individual’s credit score. If you file for this kind of debt...
Nobody ever plans to be overwhelmed by debt. It starts with purchasing a big ticket item like a house or a new vehicle. You did the math and knew you could make the monthly payments. But Murphy’s Law says, “Anything that can go wrong will go wrong,” and you suddenly...
One of the top causes of bankruptcy is simply that people have overwhelming medical debt. This is commonly cited along with issues like job loss or credit card debt. A common reason given for this issue is that people will prioritize their health, especially in an...
Individuals facing financial hardship often decide to file for personal bankruptcy. When they do, they have to choose the type or chapter of bankruptcy they pursue. Most people find themselves choosing between two particular forms of bankruptcy. Those with lower...
When people get into car accidents, they may blame a variety of different factors. They could blame the road design, for example, or a defect with the vehicle itself. In some cases, these drivers are correct, and outside factors caused the accident. But the reality is...
Realizing that you have more bills than money every month is difficult. Once you hit that point, you may decide that you need to file bankruptcy. One of the first things you have to do if you’re doing this is to determine if you should file Chapter 7 or Chapter 13. A...
Once you realize that you’re drowning in debt and that there’s very little chance you’ll be able to recover without some sort of help, the option of filing for bankruptcy may come to mind. This is a responsible decision that can enable you to reclaim your financial...
The primary purposes of a personal bankruptcy filing are for someone to stop collection activity and eliminate certain debts. Oftentimes, people decide to file for bankruptcy because a creditor threatens aggressive collection actions. If someone falls behind on car...
When learning about bankruptcy, you will probably stumble upon many strategies that may help you make the experience more positive. Tips and knowledgeable opinions may allow you to ensure the proceedings flow smoothly. It is great to know what you should do in a...
Bankruptcy has become a taboo work for many households over the years. People often fear that they’ll be shunned and looked down upon if they even mention the word bankruptcy. But, bankruptcy may be the best thing for many households. Bankruptcy is a process that can...