Bankruptcy

Some people plan for bankruptcy for months before they finally take the final step of filing paperwork. Others file as soon as they think of bankruptcy as a solution because they need immediate help. Bankruptcy is not only a long-term solution to overwhelming debt. It...

When you can no longer pay all of your bills every month, your credit report will show those struggles. Your score will start to drop, and any credit offers you receive will likely contain less favorable terms. Late payments, credit cards with balances over the limit...

Understanding bankruptcy requires a mix of financial and legal knowledge. Yet it is easy to overcomplicate things and get lost in strange-sounding terms. The Merriam-Webster dictionary gives a kid’s definition of bankruptcy that everyone can understand: “The state of...

If you are having trouble meeting your financial obligations, your best wisdom may counsel you to consider declaring bankruptcy. However, before jumping the gun, it is important that you come up with a plan and a strategy. This includes identifying the right...

Many people get into financial trouble for a variety of reasons ranging from losing a job to suffering from a medical emergency. It’s important for you and others who are struggling to understand that you likely will not face any kind of imprisonment for failing to...

One of the most common reasons that people cite for not wanting to file bankruptcy is simply that they believe it will ruin their credit. They are wary of doing anything that will make it harder to get a loan in the future. It is true that bankruptcy can lower your...

Making the decision to file bankruptcy is something you must do with care. It will have an impact on your future, so you want to be sure it is exactly what you need to do. With that in mind, it is a good idea to learn as much as possible about the process before...

Debt collectors must follow certain guidelines as written under the Fair Debt Collection Practices Act (FDCPA), which banishes the use of harassing or misrepresentative tactics. While harassment often gets media coverage, it is a different story for misrepresentation....

A car deficiency is an issue that may arise following a vehicle’s repossession. With a deficiency, what has happened is that the creditor repossessed the vehicle, sold it and didn’t get enough to pay off what you owed. If this happens, a creditor may sue you for the...