When your debts are climbing and you already suspect (or know) that you need to file bankruptcy it can be very tempting to indulge in some substantial purchases on credit – while you still have some readily at hand. This can be especially true during the holiday...
Year: 2023
3 tips for rebuilding your credit after bankruptcy
People who are considering a personal bankruptcy filing often have a lot of reservations. They may worry about the stigma associated with bankruptcy and also the financial implications of filing. Typically, a personal bankruptcy leads to the closure of revolving lines...
What’s the problem with payday loans?
A payday loan is a short-term loan that you take out as an advance. People sometimes turn to this when they have an immediate cost but they haven’t yet been paid. For example, say that someone is going to be paid $1,000 the following Friday. But their car breaks down...
How the automatic stay can influence bankruptcy timing
For some people, filing for bankruptcy is a decision that they make very slowly. They recognize that every month, their financial circumstances become a little more difficult. Eventually, when they have to start choosing what bills to pay, they decide to file for...
What will your life be like after your bankruptcy?
Once you decide it is time to file a Chapter 7 or 13 bankruptcy, much of your focus is on dealing with the associated requirements. For example, you must prepare for meetings and participate in educational courses. Most people are too consumed with bankruptcy...
Why bankruptcy filers should stay off of social media
Filing for bankruptcy is a decision that few people approach lightly. Those seeking this kind of debt relief are generally weathering very challenging circumstances and may simultaneously be in need of a great deal of social support. While it might be tempting to...
Declaring Chapter 7 bankruptcy if you work for yourself
People sometimes find themselves in a conundrum when considering bankruptcy. They know that they can’t afford to make all of the payments on their debt-related obligations, so they are interested in using Chapter 7 bankruptcy to eliminate some of their financial...
Will my kids be ashamed if I file for bankruptcy?
Filing for bankruptcy is a significant decision that can be very emotional. Among the many worries individuals may have about taking this step, the fear of their children feeling ashamed or embarrassed can be particularly distressing. It's essential to honor the fact...
How is medical debt handled in bankruptcy?
People may choose to file bankruptcy for many different reasons, ranging from job loss to an unsuccessful attempt to start a small business. However, when looking at the most commonly-cited reasons for personal bankruptcy filings, one issue stands out more than most...
Can a debt collector contact you on social media?
Over the past decade, the way debt collectors can legally contact you has expanded. In the past, they were restricted to letters and phone calls. Today though, with ever-present digital technology, debt collectors have the legal authority to use what is available –...
