If you are one of the many Americans spending more during the holiday season, you are not alone. It is common to experience an uptick in spending in the later months of the year, and this can lead to even higher debt balances for those already struggling with debt....
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Bankruptcy
What assets are exempt during Chapter 7 bankruptcy?
One of the most significant issues that come with owing a significant amount of debt is the pressure from creditors and debt collectors to make payments on that debt. If you are behind on your payments, you may encounter different efforts to collect payment in the...
Does bankruptcy discharge student loan debt?
Higher education is both an opportunity and a barrier. Its achievement opens doors while its lack closes them. However, the rising costs of obtaining a college education force many to take on immense student loan debt. These debts can be a burden on them as they try...
Chapter 13 bankruptcy does not discharge all debts
Consumer bankruptcy helps individuals start a new life free of much of their debt burden. However, the relief it provides may not always be complete. Chapter 13 bankruptcy works by offering individuals a structured plan to repay their debts over a short period,...
How can you know if it’s time to file for bankruptcy protection?
If you are struggling with your finances and behind on your bills, you are not alone. Many consumers just like you struggle with keeping up with their obligations, or they may be unable to regain their footing after an unexpected major life event. If you are facing...
The exact debts addressed during bankruptcy
Unmanageable debt is a struggle for many consumers, and this struggle has the potential to take over many aspects of a person’s life. If you are behind on your payments, watching your interest accumulate on top of your balances and facing a future with constant...
The details of how reorganization bankruptcy works
Financial struggles are normal, and most people experience even an abbreviated period of financial difficulty at some point in their lives. However, you may be in a place where you are not able to manage these financial issues on your own, and your debt problem may...
When does debt discharge happen in bankruptcy cases?
During bankruptcy, debtors can seek discharge for various debts, releasing them from personal liability for specific financial obligations. Creditors also receive permanent restrictions from collecting payments for eligible debts when issued a discharge order. This...
What will life be like after bankruptcy?
It is disheartening and overwhelming to be in a position in which a person is no longer able to manage his or her financial obligations. Each month, the bills continue to come, and you may not be in a place where you can effectively manage your payments. Interest...
How does bankruptcy impact a HELOC?
When you are unable to pay your bills, your balances will continue to accumulate, and interest can add more to what you already owe. This can create a situation that you may never be able to escape on your own, and you might find yourself considering various options...