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June 2020 Archives

Yay! Life! LLC files for bankruptcy

Sometimes, small businesses can't keep up with the demand for their services. Other times, they struggle to make enough money to keep their doors open. Regardless of the reason for a small business's struggles, if the business can't stay profitable, the owner may want to consider filing for liquidation bankruptcy.

Debt in America: A problem across generations

Right now, Americans are in debt at an amount of approximately $14.1 trillion, based on the 2019 Consumer Debt Study by Experian. That number is made up of debt from credit cards, student loans, auto loans and mortgages. On average, each American carries a personal debt of around $90,460.

If foreclosure is looming, consider bankruptcy

You love your home, but you've really struggled to make payments on time. Your mortgage went up when your property values started to increase, and that increase in your mortgage took a toll on your budget. Where you used to pay $900 a month, you now have to try to come up with $1,200. It's a big jump.

Chapter 7 or 13 bankruptcy could be a way out of your debt

Debt relief may be something you're looking into if you've lost time at work or lost your job recently. Having great amounts of debt can make it hard to get your finances back on track when you're only able to work part time or find piece work to bring in an income.

Want to avoid bankruptcy? These 3 tips could help

You have always been good with your money, but when you lost your job during the recent economic downturn, you were suddenly put in a frustrating, position. You had enough money to pay your bills, and unemployment helps you cover the essentials. Unfortunately, you don't have enough to pay down your debt or make all of your minimum payments on time.

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