It’s well known that medical debt is one of the top reasons for bankruptcy in the United States. In other countries, citizens benefit from tax-funded healthcare, so they don’t have to privately pay for all of these expenses. But in the United States, the majority of...
Month: January 2024
Can bankruptcy keep my car from being repossessed?
The average cost of a motor vehicle has increased significantly in recent years. More complicated systems in vehicles and used car shortages have combined to drive up what people pay for transportation. With higher vehicle costs come more financed transactions. Those...
Why are payday loans considered predatory?
Payday loans are a controversial form of borrowing that has garnered a predatory reputation. These loans have incredibly high interest rates and fees, which can be significantly higher than those of more conventional lending options. The structure of payday loans...
Medical debt is the top-reported cause of bankruptcy filings
The average person's beliefs about bankruptcy are not as grounded in reality as one might think. A surprising number of people assume that irresponsible financial management is the leading cause of personal bankruptcy. They hear new stories about people carrying high...
What should you know about wage garnishments?
For many consumers, understanding wage garnishments and their implications is important. This knowledge is always important, but it can become particularly pressing when someone is considering bankruptcy as a potential solution to halt garnishments. Wage garnishment...
