While bankruptcy may clear away your debt, credit bureaus take bankruptcy as a sign that you have not been able to handle debt payments and will drop your credit score, perhaps as much as 200 points. However, this may not be permanent by any means. At some point, your...
Bankruptcy is shrouded in misinformation and misconceptions, creating a level of uncertainty and hesitation for those who might benefit from the service. When you already struggle with anxiety over your outstanding debts, misunderstandings about bankruptcy can...
Life easily gets complicated. For some people, that includes facing debt piling up. According to the United States Courts, 387,721 bankruptcies occurred in 2022. Although a last resort and often shrouded in negativity, bankruptcy also provides new beginnings. Creditor...
Facing wage garnishment can be a stressful experience. When an individual's financial situation becomes unmanageable, bankruptcy can often be a valid option to consider. While bankruptcy carries its own set of challenges and implications, it also offers some...
Most bankruptcies are not the result of financial recklessness. Instead, they are often caused by unexpected expenses or losses of income. Unfortunately, many people and companies feel that they have no other option than to file for bankruptcy every year. Total...
Bankruptcy is a process that helps many people clear their debts and start over financially. However, bankruptcy can be intimidating to people who do not know a lot about the process. One of the more common questions that people have is what will happen to different...
When you are unable to make your monthly mortgage payments, the lender will eventually take action in order to claim what they are due. This typically marks the beginning of the foreclosure process in which the mortgage lender seeks to resell your home. The threat of...
Chapter 13 bankruptcy may allow you to pay back your debts at a discounted rate. These plans are beneficial if you do not meet the asset requirements for a Chapter 7 bankruptcy or have property you want to keep. However, unforeseen life changes can make it challenging...
When filing for bankruptcy, one of the biggest concerns for many people is whether they will be able to keep their property. In Louisiana, debtors can protect their property with certain exemptions that go along with the bankruptcy process. State and federal...
Different types of debt exist, and it is important to understand the differences between each type. Of the types of debt, secured and unsecured debt are among the most important to fully grasp and understand. What differentiates the two? Secured debts The National...