Filing for bankruptcy can feel like hitting a financial reset button—with the significant caveat that it does take a temporary hit on a filer’s credit. Thankfully, if you have recently filed for bankruptcy or expect to file soon, there are practical steps you can take...
Filing for Chapter 13 bankruptcy lets you repay your debts through a court-approved plan over three to five years. If this is your first time going through bankruptcy, you might ask; “Who sets that payment plan?” More importantly, what happens if you miss a payment?...
When filing for Chapter 7 bankruptcy, you’ll likely go through an evaluation of your finances to determine whether you qualify. This is known as the means test. It works by comparing your income to the median income for a household of your size in your state. The goal...
Medical and credit card debt are two leading causes of financial strain on American families. These types of debt are often unexpected and hard to recover from, even for families with very few expenses. Some families can pay off their debts by sticking to a budget for...
Parents who are thinking about filing for bankruptcy may understandably worry about how the process might affect their children. While the financial consequences of bankruptcy are real, negative emotional and practical impacts of this process on your kids are not...
Everyone goes through tough times, but it seems some people get hit a little bit harder. Misfortune after misfortune can make it hard to keep their head above water. For these people, bankruptcy may seem like the best option, but knowing which type of bankruptcy to...
Going through a divorce is never easy, especially when financial stress is already part of the picture. When bankruptcy enters the equation, things can quickly become more complicated. You might be wondering how filing for bankruptcy will impact the assets you worked...
One of the most disheartening things to go home to after a hard day at work is a bunch of collection demands in your mailbox, inbox or voicemail box. It’s difficult to have to deal with the constant reminders that you owe money but can’t make the payments, despite...
Filing for Chapter 7 bankruptcy can offer substantial relief from overwhelming debt, but it doesn't eliminate all financial obligations for everyone involved. If someone has co-signed a loan with you, they may still remain financially responsible. Understanding how...
When a lender forecloses on a property, the sale may not cover the full amount owed on the mortgage. In Florida, the lender can pursue a deficiency judgment to recover the remaining balance. If you face foreclosure, it helps to understand what a deficiency judgment...
