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Here’s How to Keep Medical Bills From Sending You Into Bankruptcy

Dealing with major health problems is stressful enough, but mounting medical bills can make that stress even worse. It’s hard to pin down exactly how many people file bankruptcy because of medical debt, in part because it’s usually a combination of factors that leads to bankruptcy. But along with a…

Seven questions to ask before filing for bankruptcy

If you’re in debt over your head, afraid of being sued, and just want the collection calls to stop, you may be considering bankruptcy. Bankruptcy gives those with more debt than they can repay a chance at a fresh financial start. It stops court actions and Chapter 7 bankruptcy, specifically,…

Thinking About Bankruptcy? These Options May Be Better

Do you have knots in your stomach over your financial situation? Sleepless nights? Creditors calling? You need a plan. And if bankruptcy is on your mind, it’s time to do your homework and see if it’s the best solution for your financial woes. There are plenty of warning signs that…

Am I Too Old to Declare Bankruptcy?

Filing for bankruptcy protection is a big decision for anyone, but for older people, it also raises some unique concerns. Many older adults have a lot of equity in their homes, something worth protecting, but that could be threatened in certain Chapter 7 bankruptcies. If you’re an older adult, it’s…

8 Bankruptcy Myths You Should Stop Believing

Many people have misconceptions about bankruptcy. Not just the process, but also about the future fallout that comes from declaring bankruptcy. While bankruptcy should be taken seriously, it’s often not as scary as people think, said Michael Bovee, co-founder of debt relief company, Resolve. “People are so afraid of bankruptcy,…

What bankruptcy means for your rewards credit card?

Many credit cards come with some nice perks. Maybe it’s cashback, a great deal on airline miles, or tons of travel points. If you’ve spent years accumulating those rewards, the thought of losing them can be upsetting. Filing for bankruptcy throws the future of those rewards points into uncertainty. Here’s…

What are the differences between debt relief & bankruptcy?

Bankruptcy is not necessarily the villain of a debt recovery story. At times, it can be the right solution that gives a consumer a chance to start over. However, like all debt relief options, there are pros and cons. Comparing bankruptcy to these other options can help you assess the…

Collection Law Firms: Things Could Be About to Get Real

So you’ve received a notice from a collection law firm that it has been assigned your account. This no doubt feels like a serious matter, and, honestly, it is. But you are not powerless — you still have ways to reduce your risk of being sued. You can also use…

How much does it cost to file bankruptcy?

Let’s be perfectly honest: If bankruptcy is among your considerations for fixing your financial situation, the associated costs of filing likely aren’t significant enough to keep you from doing so. Still, it’s good to understand what costs are involved so there aren’t any surprises. This article will walk you through…

7 Celebrity Bankruptcies and What You Can Learn From Them

Tax man troubles. Bad investments. Shady financial advisors. Lavish spending. These are some of the pitfalls that lead the rich and famous to file for bankruptcy. Most famous folks end up filing Chapter 11 bankruptcy, a much less common form (7,735 filings in 2018, compared with 480,933 for Chapter 7…

How to file Chapter 13 bankruptcy

Hopefully, if you’re reading this, you’ve looked into different ways to resolve your debt woes before jumping straight to bankruptcy. For most people, these debt relief options include debt settlement, debt management, and even debt consolidation if your finances aren’t too far gone. Most debt experts consider bankruptcy an option…

How long after bankruptcy can I buy a house?

So you’ve declared bankruptcy at some point in the recent past and now you’re wondering when you can buy a new home? The simple answer to this question is, well, simple: Whenever you want. There aren’t any specific laws limiting your ability to buy a home at any point during…

How often can you file bankruptcy?

Most people don’t want to declare bankruptcy even once, let alone twice or thrice. But there are financial reasons why it may be necessary at times. There are limitations to how frequently a consumer can file, though. Let’s take a look at what those limitations are and how they can…

Credit counseling vs. Chapter 13 bankruptcy: Which is right for you?

If you find yourself in over your head in debt it might feel like there’s no chance of relief, but you do have options to manage your debt. In fact, there are many ways to take control of your finances and get back to a healthy situation. Here we will…

Bankruptcy: The differences between Chapter 7 & Chapter 13

When you’re facing more bills than income, sorting through the options for debt relief becomes a mission of urgency. You may want to rule out even thinking about bankruptcy because it has such a bad rap in many circles. But the truth is that sometimes it’s your best option. Learning…

Bankruptcy: The differences between Chapter 7 & Chapter 11

If you’re falling behind on credit card and loan payments or noticing that the debt keeps growing despite your best efforts to stay current, it may be time to seek protection against your creditors and find help getting out from under your debt. Facing bankruptcy can be daunting, but know…

Debt Consolidation vs. Bankruptcy: What’s the Difference?

If you’re on the brink of going deeper in debt and facing late payment fees, you may be considering debt relief options. Consolidation and bankruptcy are quite different, but both are worth considering to get on a path to a clean financial slate. What is debt consolidation? Debt consolidation usually…

Voluntary vs. Involuntary Bankruptcy

Bankruptcy often carries a stigma that keeps people from considering it as an option for debt relief. However, there are times when it’s the right solution for consumers who are struggling with more debt than income as it provides court protection and a chance to rebuild credit. If your financial…

Debt Consolidation or Chapter 13 Bankruptcy: Which is Right for You?

If you’re considering consolidating debt or filing Chapter 13 bankruptcy, you’re likely facing serious financial distress. Both debt relief solutions may offer you a path to recovery but also present some challenges worth understanding. What is debt consolidation? Debt consolidation usually means taking out a large loan from a creditor…

What happens when you file bankruptcy?

Bankruptcy isn’t something most of us want to consider, even when we’ve dug ourselves into a significant financial hole. But in some circumstances, bankruptcy can provide the financial protection and relief we need. Perhaps the most difficult part of bankruptcy is determining whether it’s the best option for your financial…

Debt settlement vs. bankruptcy: Which is right for you?

When you’re in need of serious help getting your credit back on track, there are two debt relief options that are worth considering. Both debt settlement and bankruptcy will reduce or eliminate your debt, but can also negatively impact your credit in the near term. Here’s what you need to…

Is bankruptcy the right choice for me?

The word bankruptcy can strike financial fear into a lot of people. It comes with a good bit of stigma, and most of us would prefer to avoid it. But the truth is hundreds of thousands of people in the United States file for bankruptcy protection every year. For many,…

How long does bankruptcy stay on my credit report?

If your debt has you feeling overwhelmed and you’re considering filing for bankruptcy, it’s important to consider all of your options before making a final decision. Bankruptcy can have a lengthy adverse impact on your credit, making it almost impossible to open new lines of credit until well after your…

What’s the difference between bankruptcy dismissal & discharge?

If you’ve been researching bankruptcy as an option for solving your debt issues, you may have come across the terms “dismissal” or “dismissed” and “discharge.” At first glance these may seem like the same thing, but they’re actually very different. Let’s take a look at why. Different types of bankruptcy…

If Resolve recommends Chapter 7 Bankruptcy, how soon can I file?

You can file Chapter 7 right away, which is especially useful if you are already involved with legal collections, or have been struggling under the weight of overwhelming debt for too long.

Frequently Asked Questions

What is Bankruptcy?

Depending on the type of Bankruptcy filing, it’s an opportunity…

How does Bankruptcy work?

The two most common types of Bankruptcy filings are Chapter…

How much does Bankruptcy cost?

The average national cost for Chapter 7 is around $1,800,…
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