When people talk about filing for personal bankruptcy, their primary concern is often how doing so will help them resolve their financial situation and rescue their credit score. Bankruptcy can have other benefits that many would argue are even more important than the...
If you’re struggling with debt, there’s a chance you’ll start missing payments. Maybe you have a limited income, so you’re missing credit card payments because all you can afford is to pay the mortgage. When you have to make choices, something has to go unpaid. Often,...
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...
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...
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...
