Credit card debt is a leading cause of unmanageable finances. According to Experian, the average credit card balance of Americans is $5,525, with some states having average credit card debt as high as $7,089. Those are significant figures, but many families are able to pay down debt when it gets too high. But what if your […]
Student loan debt in the U.S. has reached a staggering $1.75 trillion. While these loans are often used to further higher education, the debt remains a significant problem for many people because of its heavyweight on individuals and their finances. People are often wary of including student loan debt in bankruptcy filings because they do not […]
Hundreds of thousands of veterans fall into serious financial difficulties each year, and many consider bankruptcy protection as one of their options. While just 10% of the total U.S. population are veterans, nearly 15% of those who file for bankruptcy are in this class. But, Chapter 7 bankruptcy has certain requirements, such as passing a “means test.” […]
Filing for bankruptcy is never anyone’s first choice. It’s a tough decision that generally comes after a long struggle with financial issues and having to deal with ruthless creditors. But, if you’ve decided that bankruptcy is right for you, the process will go more smoothly if you come prepared for your first meeting with your […]
Making the decision to file for bankruptcy to manage debt is never an easy thing to do. Even when bankruptcy is the best choice for a debtor, it’s usually a last-resort option. And while bankruptcy can provide a huge sense of financial relief and provide someone with the ability to discharge their debts, bankruptcy also […]
In addition to the risk of health complications or even death due to the coronavirus, the COVID-19 pandemic has also caused financial challenges for many individuals throughout the country. If you are now dealing with debt that was accumulated during the ongoing COVID-19 pandemic, you are not alone. While you may be feeling overwhelmed and […]
If you’re struggling financially and have tried things like credit counseling or selling off some assets, you may be considering bankruptcy as your next option. Do a little more research, and you’ll soon discover that there are several different types of bankruptcy available to individuals: Chapter 7 and Chapter 13. Before you can move forward, […]
If you are thinking about filing for bankruptcy, your best chance for a successful outcome is to partner with a good bankruptcy lawyer. Although you can file for bankruptcy without an attorney, it’s not a good idea to do so. Here are some reasons why you should hire a bankruptcy lawyer and what you should […]
Owning a home has been a part of the “American Dream” for generations. If you’re struggling with debt, you might fear losing one of the most valuable assets you own – your home – when you file for bankruptcy relief. But, with the right strategy, you should be able to keep your home and some […]
Before filing bankruptcy in the Gulf Coast area, you’re required to complete credit counseling. The Federal Trade Commission has created this requirement to help consumers understand their current financial situation and avoid having people with lifelong debt issues. If you are planning to file for Chapter 7 or Chapter 13 bankruptcy, here is what you […]