Bankruptcy

There are many reasons why people are often hesitant to file for bankruptcy. One that debtors often share is that they fear that they'll never regain creditworthy status again. A bankruptcy will indeed remain on your credit report for between seven to ten years once a...

Bankruptcy has certainly been portrayed as a last-ditch effort to rid a person of debt. It has been scrutinized and villainized in the media, so it isn’t surprising when people believe that it is their last option and should be avoided at all costs. Bankruptcy is...

Medical costs have skyrocketed in recent years, a factor that has left many Illinois residents encumbered by debt. It shouldn't come as a surprise to learn that researchers published a 2019 study in the American Journal of Public Health listing medical bills as one of...

When you are struggling with debts, it’s important that you choose how you want to move forward and eliminate them. You have two main options, which are to enter into bankruptcy or seek debt relief through other methods. If debt is overwhelming you, you may not see a...

When you don't make quite enough to cover all of your expenses out of pocket each month, credit cards are invaluable. They help you cover expenses until you have another paycheck in the bank. People tend to lean on them even more during the holidays to cover gifts,...

One big question that people considering bankruptcy ask is what kinds of assets creditors can take during the bankruptcy. The answer depends on the kind of bankruptcy you have as well as the exemptions you take. If you go through a Chapter 13 bankruptcy, you will not...

If you’re unhappy with your financial decision, it never hurts to learn more about Chapter 7 bankruptcy. As you come to better understand the benefits, you’ll find it easier to decide if this is the right way to escape many of your financial problems. The primary...

Unsecured credit is easy to come by in the United States, which is beneficial for the economy overall. Unfortunately, during times of economic decline, people can quickly find themselves overwhelmed by debt that would have been manageable just a few months before....

If there is one kind of debt that can add up quickly and make it hard to eliminate what you owe, it’s credit card debt. Credit cards often have high interest rates. Missing a payment can lead to penalty fees and rate increases, too. You’re not alone if you’re...

Not so long ago, life was going well. You never dreamed that a few months later you’d be out of work, your bills would be piling up and you’re worried that you’ll soon be facing an eviction or a foreclosure. Filing for bankruptcy may be your best option. Once you file...