There are many people who struggle to even think about filing for bankruptcy. Instead, they think that they have an obligation to pay off their debts. They believe that the bankruptcy is their own fault, and so they’re hesitant to take that step. In many cases,...
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...
