Debt 101

Dealing with major health problems is stressful enough, but mounting medical bills can make that stress even worse. Here's how to keep those medical bills from sending you into bankruptcy. It’s hard to pin down exactly how many people file bankruptcy because of medical debt, in part because it’s usually...

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,...

Do you have knots in your stomach over your financial situation? Sleepless nights? Creditors calling? You need a plan to manage your debt. 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...

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...

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 Resolve. “People are so afraid of bankruptcy, they don’t even...

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...

Let’s be perfectly honest: If bankruptcy is among your considerations for fixing your financial situation, the associated cost 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...

Tax man troubles. Bad investments. Shady financial advisers. Lavish spending. These are some of the pitfalls that lead the rich and famous to file for bankruptcy. Here are seven of the most famous celebrity bankruptcies. Most famous folks end up filing Chapter 11 bankruptcy, a much less common form (6,891 filings...

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. But if you're considering Chapter 13 bankruptcy,...

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...

Most people don’t want to file 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...

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 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. Here are the...

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. Facing bankruptcy can be daunting, but know that millions of Americans have taken this route to...

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 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. Here's what you need to know when you decide to file for bankruptcy. Perhaps the most difficult...

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. The different types of...

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...

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 that hundreds of thousands of people in the United States file for bankruptcy protection every year. For...