Times are tough for a lot of people. Working two jobs, living paycheck-to-paycheck, and always skimping on necessities may seem like a normal situation for many people, but it may mean you are headed on a collision course toward bankruptcy. Do you know the signs that...
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Retirement Accounts and Your Bankruptcy Case
If your financial situation is stressful and filing for bankruptcy seems inevitable, you may be wondering what happens to some of your plans for the future. For example, what happens to your retirement savings account through your work? Will your relaxing retirement...
The Means Test Explained
If you are considering filing for Chapter 7 bankruptcy then you may have heard of the Means Test. The test basically determines whether your income is low enough for you to file for Chapter 7 bankruptcy. Since Chapter 7 bankruptcy is known for debt forgiveness and...
Cancer Survivors Face Financial Hardship
A cancer diagnosis means a lot of uncertainties. It may mean surviving surgeries, chemotherapy, and radiation. It may mean multiple hospital stays and expensive medication. Unfortunately, cancer can not only take a toll on the body but on a bank account as well....
Divorce and Bankruptcy
Are you facing a potential double whammy – divorce and bankruptcy? Many people cite divorce as a leading reason for bankruptcy filings, and others indicate that bankruptcy or financial issues are a leading reason for the divorce. So, as you can see, there are many...
Changing Demographics of Bankruptcy Filers
In the 12-year span from October 1, 2005, to September 30, 2017, about 12.8 million consumer bankruptcy petitions were filed in the federal courts, (U.S. Courts). That breaks down to almost a million consumers a year. If you were one of the millions who did find the...
The Red Flags Warning of Bankruptcy
Debt can sneak up on some people, slowly, month-after-month. Some individuals may not realize just how bad it is, until it is too late to take action and “turn the ship around,” so to speak. Here are several warning signs that you may be headed toward a financial...
What Should I do Before Filing for Bankruptcy?
Bankruptcy is neither the end of the world nor should it be taken lightly. Bankruptcy is something you should research, weigh heavily, and plan for in the weeks and possibly months before you finally decide to file. Unless your financial difficulties happen suddenly,...
Credit Cards: the Good, the Bad, and the Ugly
Do you have a love-hate relationship with your credit cards? Most Americans do. According to Experian’s latest State of Credit report, the average U.S. consumer holds about two bank-issued credit cards and carries a total balance of $5,551. That’s a lot of money,...
Recovery After Bankruptcy
Are you one of the 755,000 Americans who filed for bankruptcy last year? If you are, you probably found out that bankruptcy is not the end of the world. In fact, the relief from harassing calls from creditors and the onslaught of bills can be freeing. Now that you...