Bankruptcy is an important legal tool that can be used to grant an individual a fresh start when they find themselves in over their head financially. However, some people see bankruptcy as a means to protect themselves after a series of unscrupulous business dealings. Just such a scene recently began to play out for a woman with a reputation for…
Even great ideas come to an end sometimes, and the bankruptcy filing of The Limited store chain demonstrates that it can happen to anyone. The chain, which focused on professional attire aimed at women in the workplace, was founded more than 50 years ago right here in Ohio. However, the business model was built around the shopping mall experience, which…
How Bankruptcy Affects Credit Score Many people in Ohio and elsewhere who are struggling with overwhelming debt may have considered filing for bankruptcy to find relief. However, bankruptcy has a stigma attached to it that may prevent people from filing simply because they worry about what will happen to their credit scores. While your credit score will certainly take a…
It is possible to get loans after you declare bankruptcy. In some ways, it actually makes lenders more confident in you because you’re only allowed to use Chapter 7 bankruptcy every eight years. If you just used it, you can’t use it again to get rid of your brand new debts. Still, to make yourself more attractive to lenders, it’s…
While it may be difficult to believe, it’s almost been a decade since the downturn in the housing market. Things are looking much different than they did when the recession was at its lowest point. Homeownership is something that many people can finally become part of again. That is, unless you filed for bankruptcy, right? Actually, that’s not the case…
“Bankruptcy.” The word alone may send shivers down your spine. No one wants to go through bankruptcy, but sometimes, it is essential to a person’s livelihood and well-being. But why does bankruptcy make people cringe? Why does the thought of declaring bankruptcy immediately make people fear what their life will be like after the bankruptcy? Part of this fear is the concept…