Bankruptcy is a scary word. No one ever thinks that bankruptcy could possibly become their reality, and most people have no idea what bankruptcy actually entails - the fear of the unknown and the “how did I get here” feeling combined often send people into a tailspin...

Bankruptcy - like “recession”, “debt ceiling”, “default”, and other financial terms that sound foreboding and may not be fully understood - is a word that tends to scare people (especially because bankruptcy, unlike those other words, is likely more personal)....

Getting behind on your mortgage payments can easily happen. Once you miss one or two, it can be very challenging to catch up on the mortgage payments to stop foreclosure. Additionally, the mortgage company makes it more difficult by supplementing late fees and other...

Most individuals or businesses that qualify for bankruptcy fail to avail themselves of its potential benefits. Filing for bankruptcy can affect your personal finances for several years, but it is the best option to manage your secured debts. Nonetheless, each...

Hundreds of thousands of people file for bankruptcy each year to get out from under mounting debt. While declaring bankruptcy solves the immediate problem of not being able to pay your bills, it has consequences. Bankruptcy remains on your credit report for up to 10...

When it comes to debt, there are two terms that will often come up: insolvency and bankruptcy. While these two terms are related, they each have their own separate meanings. Essentially, insolvency means that a person or business has more debt than assets,...

If you’re thinking about filing bankruptcy, you may have learned that certain debts are nondischargeable. If so, you’ve likely begun to wonder if your most pressing debts are dischargeable. This list is a guideline for what kinds of common debts are nondischargeable...

Each year, around 800,000 Americans file for personal bankruptcy protection. The decision to declare bankruptcy can be a hard one, but even once you’ve made the decision, choosing between a Chapter 7 and Chapter 13 bankruptcy can be a challenge. It’s important to...

A number of factors can impact your credit score, and a good financial state does not necessarily mean a good credit score. The credit bureaus decide your score, and what you do with the credit you have available to you affects that score in a number of ways....

A good credit score can make life a lot easier. Ranging from the low 300’s to 900, a credit score allows lenders to see how responsible you have been in the past when it comes to managing your debt and paying your bills on time. The higher your score, the easier it is...