Unexpected health crises and the exorbitant medical bills that often accompany them are one of the main reasons people are forced to declare bankruptcy. Medical treatment, especially when it is not covered in part or whole by medical insurance, may cost tens of thousands of dollars. Most people are unable to afford the payments associated...Read More

Bankruptcy is the best choice for many who are facing serious financial difficulties. However, bankruptcy does not always go smoothly, which is why it is important to work with an experienced bankruptcy attorney and be completely transparent during the bankruptcy process. If you attempt to hide anything during the process or you are less than...Read More

In an ideal world, a person declaring bankruptcy would have an opportunity to clean up their financial life and never look back. Once the challenge of filing is over, things get back on track and there are no more financial issues from that point forward. Unfortunately, in the real world, bankruptcy does not automatically guarantee...Read More

If you are facing financial difficulties and just in the process of considering bankruptcy, you are probably receiving a lot of calls from creditors. Once you officially file for bankruptcy, the creditors are legally required to stop contacting you. However, until that official declaration is made, they are free to contact you about the money...Read More

Filing bankruptcy can affect your assets in a variety of ways. It all depends on the specific asset, the amount, if any, owed on that asset, and the type of bankruptcy you choose. Cars and Homes Most people do not lose their vehicles or homes in a Chapter 7 filing of bankruptcy. You should do...Read More

Whether or not you keep your vehicle during a bankruptcy filing depends on several factors. There are ways to protect your vehicle, but it might mean making other sacrifices. The two most important factors that determine whether or not your car is protected include the type of bankruptcy you file and your current car ownership...Read More

Bankruptcy is a long and complex process. Many of those who rely on taking advantage of bankruptcies have found a new wrinkle in their plans – debtors being able to shed second mortgages from their main dwelling. This sort of Chapter 7 mortgage stripping might be helpful for the consumer, but its long-term impact is...Read More

When considering bankruptcy, many debtors will opt for court protection and reorganization of debt through a Chapter 13 filing. However, many of these debtors and even some lawyers are unaware of the debt limits that may keep them from being eligible for this particular process. As of April 1, 2013, limits on the amount of...Read More

Contrary to popular belief, bankruptcy has many advantages. Such advantages include getting rid of debt that is not secured with a property, such as credit card debt, medical bills, and payday loans. With a Chapter 7 bankruptcy, one advantage is the potential to strip a second mortgage on a home. Stripping the second mortgage, or...Read More

Many people are struggling to pay their debts and for some the burden of massive debt may be too hard to bear. If that is the case then they could decide that it would be wise to declare themselves bankrupt. A number of years ago there was a huge stigma attached to being declared bankrupt...Read More