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If you are drowning in debt and your self-esteem and motivation are at their lowest, you are not alone. The truth is, facing unpayable debts can be a terrifying and stressful experience for many people. Anxiety and depression are common. Despite everyone's...
A financial situation leading to bankruptcy could happen to any household faced with unexpected medical costs or a sudden loss of income. Whether used to seek relief from overwhelming consumer debts or to stave off foreclosure, bankruptcy may offer a workable path...
Falling ill or facing an injury may leave you strapped for cash. If you are unable to work, you may sink further and further into debt. Bankruptcy may prove the best way to relieve some of the stress debt causes. What happens to the medical debt during bankruptcy? The...
Bankruptcy is a valuable tool provided by the government to grant individuals like you the chance for a fresh start. Chapter 7 bankruptcy is one of the options available to consumers and involves the sale of your nonexempt property to pay off debts. The other...
Bankruptcy allows you to wipe your debt clean to start over. It can help you rebuild your credit and learn to manage your money wisely. There are also benefits to be had during the bankruptcy process. 1. Automatic stay Once you file for bankruptcy, the courts send...
For many Americans, debt has reached crisis levels. In fact, the average person in the U.S. owes roughly $93,000 to creditors. This figure includes about $5,000 in credit card debt and more than $16,000 in personal loans. While having some debt usually makes good...
The repayment term for Chapter 13 bankruptcy is three to five years. During that time, it is not uncommon for some people to experience changes in finances that interfere with their ability to stay current on their bankruptcy obligations. Job loss, serious illness,...
Bankruptcy is a federal court procedure that allows people to get rid of debt and repay creditors. The intent of bankruptcy is to give people a fresh start. Bankruptcy is not a magic pass that allows you to erase your entire past, but it can make your present easier...
Next to your home, your vehicle is likely the possession you are most afraid of losing during bankruptcy. It may be your lifeline, and without it you could have difficulty getting to and from work, as well as any other places you need to go. If you are afraid your...
Too many people consider bankruptcy a painful last resort. They explore unsavory alternatives such as risky loans, borrowing money from friends or family members, and other options to avoid complete financial ruin. The truth is, the Bankruptcy Code was developed to...
