Bankruptcy

Perhaps the single silver lining of the Great Recession of 2008 is that it ended the stigma surrounding the bankruptcy process. That catastrophic financial downturn taught most Americans that even those who are hard-working and financially responsible can struggle to...

Many different financial challenges might prompt an individual to file for bankruptcy. Some people worry about creditors trying to repossess their vehicles or lenders foreclosing on their homes. Others cannot balance their budgets and eventually seek relief through...

You may decide to file for bankruptcy once you realize that there’s simply not a way for you to continue to make payments on debt-related accounts sustainably while still paying for your basic life needs. While it might seem disheartening to go through the bankruptcy...

Bankruptcy is a legal process that can provide relief to individuals overwhelmed by debt. However, many people considering bankruptcy whether they will have to sacrifice their home to get this fresh financial start. The good news is that in many cases, you can keep...

Many cultural attitudes about bankruptcy reflect widespread misinformation. People tend to think of those who file for bankruptcy as irresponsible, but that is often not the case. While there are some people who misuse credit cards and use bankruptcy to shirk...

The realization that you have more bills than money is hard to accept. For some people, filing for bankruptcy is the only way they can regain control their finances. Chapter 7, which is known as liquidation bankruptcy, is one option that is available for those who...

You knew at the end of last year that you were experiencing a bit of a financial crunch, but you didn’t think it was that bad. You really thought everything would work out. In any case, you now know that you’re going to have to file for Chapter 7, but you’re haunted...

The automatic stay in bankruptcy is a fundamental component of the process. It provides immediate relief to individuals filing for bankruptcy. It goes into effect the moment a bankruptcy case is filed, but it’s possible that creditors might file to have this waived....

Some of the most valuable assets people own are too expensive for them to purchase directly. Vehicles and real property are both excellent examples. Individuals often cannot afford to make a cash purchase of a home or a vehicle, so they must apply for financing. The...

Personal bankruptcy exists to help people regain control of their finances and move past a short-term period of financial hardship. Without bankruptcy, a job loss or medical emergency could cause someone to struggle financially for the rest of their life. Bankruptcy...