Filing for bankruptcy can be a stressful experience, especially for parents concerned about how it may impact their ability to care for their children. Chapter 7 bankruptcy is one of the most common types of bankruptcy, and while it can provide relief from debt, many...
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What are the implications of bankruptcy on my loan co-signers?
Filing for bankruptcy can be a complex and emotional decision. It is even more complicated when someone has co-signed a loan with you. If you have loans with co-signers, it’s important to know how your bankruptcy will impact them. Understanding co-signer...
The number of people filing a bankruptcy rose sharply in 2023
Various social factors influence bankruptcy filings. For example, an overall economic downturn is likely to increase bankruptcy filings. People who lose their jobs may find themselves suddenly struggling to fulfill their basic financial obligations. Higher interest...
4 tips for avoiding unmanageable credit card debt
Credit card debt is a modern crisis, with the nation's exceeding $1 trillion, according to Bankrate. The convenience, the disconnect between the mind and the piece of plastic in your hand and the ability to spend money you do not have make it easy to rack up debt....
What are the consequences of filing for bankruptcy in your 20s?
Making serious financial decisions in your 20s can significantly impact your future. Some decisions can lead to debt, and then you might have to make decisions regarding how to recover. For some, bankruptcy can absolutely be a viable solution to overwhelming debt....
How filing for bankruptcy can affect your interest rates
Facing financial difficulties is certainly a daunting experience. However, filing for bankruptcy can be a valid step toward a fresh start for those struggling to overcome debt. While filing for bankruptcy provides a way to address debts and financial obligations, it...
What people need to know about wage garnishment in Oregon
When an individual falls behind on their financial obligations, their creditors have numerous different options. Collection activity often begins with written notices and phone calls. However, it may soon escalate to more serious efforts, including lawsuits against...
Why you shouldn’t feel guilty about filing for bankruptcy
For years, bankruptcy carried a significant stigma. It still does in many sectors of society. Yet, if you are in a position where you cannot meet your payments, feeling guilty won’t help. What’s more, it could do you a lot of harm. People often underestimate the...
How do you pay for bankruptcy?
Inflation, job losses and high rents have left a lot of people feeling the pinch on their wallets – and bankruptcies are once again becoming commonplace. According to the Administrative Office of the U.S. Courts, total consumer bankruptcy filings were up more than...
Why do people delay bankruptcy?
Earning enough to live in the modern-day United States is not easy. This is even more true if you have a family to feed or incur sudden unexpected expenses due to an accident, illness or natural disaster. Even if you have cover for such events, it can take a long...
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The Law Office of Kim Covington, is a woman owned debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 24 years.