People consider bankruptcy for many reasons, and one of the most common reasons for bankruptcy in the United States today is medical debt. Often, however, individuals consider bankruptcy not because of their own medical debt, but because of the debt of a parent. Before you file for bankruptcy because of a parent’s medical debt, be sure to consult with an…
If you are constantly dealing with overwhelming debt and worry that you may never make it back into the positive, you’re likely also searching for debt relief options. The reality is that many people have been in your shoes at some point in life, and although your circumstances may be different, the answer to your debt problems could be the same. If you are…
After a bankruptcy, many people fear that their credit will never recover. While it is true that bankruptcies do deal a harsh blow to your credit score, this harm does not last forever, and you can begin rebuilding your credit immediately. If you are considering a bankruptcy and have put it off because of the potential damage to your credit…
Chapter 7 is often an excellent way to discharge many kinds of debt if you fall behind and making payments becomes unfeasible. However, there are a number of debts that Chapter 7 cannot usually discharge. One of the most commonly misunderstood debts is educational debt, which is not typically dischargeable. However, there are some circumstances in which you might be…
If you are one of the many Ohio residents who does not have the means to pay off your debts, you are not alone. Struggling to meet debt obligations is something that happens to numerous people at some point in their lives. The question is, what will you do about it? There are various debt relief options that may be…
Many individuals worry that bankruptcy may ruin their professional lives as well as their personal lives. While it is true that bankruptcy often carries some social stigma, the law does offer some important protections to debtors when it comes to the workplace. If you have concerns about your bankruptcy’s effect on your career, the law is written in your favor.…
The strength of the court to enforce bankruptcy rights is an important, if often misunderstood, aspect of the law. Individuals who choose to pursue a Chapter 13 bankruptcy generally enjoy the right to discharge debt, outside of a relatively small list of exceptions. This means that a debtor who properly executes a Chapter 13 plan and finishes making all of…
Considering Walking Away From a Mortgage? Most Ohio residents know what it’s like to face financial challenges. In fact, you’d likely be hard-pressed to find an average citizen in the nation who hasn’t had money trouble at one time or another. Sometimes, things just get a little out of hand — perhaps, unexpected medical bills arise, or someone loses a job, and it suddenly becomes…
For many people, credit cards are a double-edged sword that might help them out of a tough spot one month, while creating a new problem later on. The truth of the matter is that many people do not truly understand the way credit cards work, and how quickly they can get out of hand. Credit cards are unsecured debt, which…
If you are like thousands of Americans, you didn’t get yourself into an unbearable debt situation through frivolous spending — you simply had bad luck surrounding medical costs. A huge number of Americans are swimming in medical debt that threatens to drown them each month. While the matter remains exceptionally politicized for individuals of every political persuasion, everyone agrees that…