The goal of bankruptcy is to give you a better financial future. It provides a fresh start. You file for bankruptcy to eliminate your debt, and then you hope to avoid future debt and the complications that come with it. But what if you still find yourself in debt...
Most people don’t make the decision to file bankruptcy easily. One question that they often have is how they’ll be able to rebuild their finances once it’s done. The fact is that this isn’t an easy process, but it’s one that can make a major difference in your life. ...
Some people think that insolvency and bankruptcy are just different names for the same thing. Still more assume that insolvency always leads to bankruptcy. Neither is true. Business owners need to be able to recognize when they have reached insolvency and what type...
Job loss is one of the top reasons why people decide to file for bankruptcy. Their debt level may have been fully sustainable when they had a steady income, but the loss of a job means they just cannot afford to pay all their bills. These start to add up, and they...
Some people call Chapter 7 bankruptcy liquidation bankruptcy. This name comes from the potential requirements to sell off or liquidate assets. The trustee overseeing the bankruptcy filing may require the liquidation of certain assets to repay creditors before the...
There are multiple different types of bankruptcy available. Individuals filing for bankruptcy typically choose between Chapter 7 and Chapter 13 proceedings. Business owners may have more options. Chapter 12 bankruptcy is available to agricultural professionals and...
The realization that you have more bills than money can be challenging and stressful. If there’s not a way to overcome the differences, you’ll need to figure out how to address the matter. One option is to file for bankruptcy. When you owe money, creditors may opt to...
There’s nothing more personal than the place you call home. It’s where your memories live, your family gathers and your sense of stability begins. When the threat of foreclosure starts looming, it can feel like the ground is shifting beneath you. Financial stress,...
While bankruptcy is not something you should rush into, holding off too long does not make sense either. One thing that could suffer if you do is your relationship with your spouse, if you have one. Surveys have shown that debt is one of the most commonly cited...
If you’re married and drowning in debt, it’s only natural to wonder how bankruptcy might affect your spouse, especially if you’re thinking about filing alone. The idea of bringing more stress into your marriage can be scary. Fortunately, your spouse’s finances and...