Coming to the decision to apply for bankruptcy is a major decision to make, and it can have a major benefit in an applicant’s future. While this decision is important, it is not the only decision they need to make. Something that many people may not realize is the...
Personal Bankruptcy
How unemployment can help you discharge debt
Unemployment can be an extremely stressful time for a person. With no income, bills and other financial responsibilities keep coming in, and you have no way to pay them off effectively. Using your credit card to pay these debts can make things worse in the long run....
What is the means test and how does it work?
The bankruptcy means test is a two-step process to determine whether a person qualifies to file for Chapter 7 bankruptcy. The test assesses income, expenses and household size to gauge whether someone has enough disposable income to pay their debts. While the means...
What are some positive results of bankruptcy?
Too many people are conditioned to view bankruptcy as a final option - a last resort that somehow means they were ineffective at managing their personal finances. Unfortunately, many Americans don’t have the savings in place to cover financial emergencies such as...
What is bankruptcy counseling?
Filing for Chapter 7 or Chapter 13 is a big decision, but it can also be the best option to eliminate overwhelming debt and get your financial house back in order. Bankruptcy can be a long and complicated process, and consulting with an experienced attorney is the...
Obtaining and using a credit card after bankruptcy
Bankruptcy can damage a person’s credit. However, rebuilding it over time is still possible. Having good credit is in any consumer’s best financial interest. Even if they have a low score, there are plenty of ways to get back on top. One of the simplest ways to do so...
4 common bankruptcy myths
Many people have heard about bankruptcy, but there is also a great deal of misinformation about the bankruptcy process. These myths may make you unwilling to consider bankruptcy, and knowing the truth about this process could be key to making an informed decision...
