Filing for Chapter 7 bankruptcy can wipe out many of your debts and allow you a fresh start in your financial life. However, not all debts are treated the same way. Secured debts, in particular, come with added complexities because they are backed by collateral -...
Month: September 2024
3 reasons the holiday season can inspire substantial debt
The holiday season comes with a lot of pressure. People want to wow their children or impress their spouses. They spend hours recreating a family recipe to uphold tradition or planning a family trip. Researchers have found that approximately a third of all adults in...
The trap of title loans
When faced with a financial emergency and few resources are available, it’s not uncommon for people to start looking at “fast cash” options. One of these is a title loan, which allows you to borrow money using your paid-off vehicle as collateral. While title loans can...
3 reasons medical debt may push people into bankruptcy
People file for bankruptcy for many different reasons. In some cases, a professional loses their job and cannot continue meeting their financial obligations. Other times, slowly growing credit card balances leave people unable to meet all of their financial...
3 types of debts people can’t discharge during bankruptcy
People considering bankruptcy generally struggle with high levels of debt. Sometimes, they may inaccurately assume that they can eliminate any debt not secured by significant assets. However, the rules for debt discharged during bankruptcy proceedings actually exclude...
