Bankruptcy

Filing for bankruptcy means that your finances are not in order, and you cannot meet your financial obligations. For this reason, your credit rating is probably already damaged even before you file for bankruptcy. However, it is possible to rebuild your credit rating...

There's a knock on your door, and the stranger standing there seems to know your name. When you confirm who you are, they hand you a packet of paperwork. They just served you with legal notice of a pending lawsuit. Even if you avoid answering your door when strangers...

Many people with financial issues delay filing for bankruptcy even if it would help. They may worry about the social stigma or that they will lose most of their personal property. The myth that people must give up or sell all of their possessions has a basis in...

Personal debt has a way of snowballing even when people think they have control over their finances. Eventually, the climbing balance on their credit cards or an unexpected hospital bill will stretch their budget too thin, leaving them unable to make all of their...

When you learned about bankruptcy in the past, it was likely with the understanding that it would lead to the liquidation of your assets. For many people, the idea of liquidating the items they own actually prevents them from filing for bankruptcy when they could...

Despite all of the upheaval in the last couple of years, personal bankruptcies have been on the decline. In fact, personal bankruptcies fell almost 30% in 2020 from the year before. Unfortunately, that may soon change. Industry professionals are predicting that there...

You have probably spent a lot of time worrying about your financial situation once you started falling behind on your bills. Internal stress due to those unmet obligations will be a problem on its own, but external stress will soon intensify things. After you miss a...

Even in times of overwhelming financial hardships, most people want to avoid filing bankruptcy. For many, this is the last resort to consider and only after every other resolution fails. Wanting to pay your debts is admirable, but it also makes sense to explore all...

Among many myths surrounding bankruptcy is the idea that those who end up filing have somehow caused their own financial problems or made avoidable mistakes that lead to bankruptcy. That may sometimes happen, but the reality is that the vast majority of bankruptcy...

When your debt reaches a point where you can’t pay all of your obligations every month, you will start to fall behind. Soon enough, creditors will send you threatening letters, try to repossess your vehicle or even file a lawsuit against you. Losing your vehicle or...