Bankruptcy can be a valuable tool for people who find themselves overwhelmed with debt and no reasonable way to get out. While bankruptcy can help you get a renewed start on your finances, many people want to avoid bankruptcy if there is an alternative. For over a...
Student loans are one type of debt that usually can’t be discharged in bankruptcy. This can leave people who are in dire financial straits with the full balance due on their student loans. Meanwhile, interest charges keep adding up. That means the person repaying the...
When you file for bankruptcy, one of the things to remember is that the bankruptcy affects your credit for a specific number of years. Whether you file for Chapter 13 or 7 bankruptcy, it remains on your credit report for up to 10 years. This will hurt your credit, at...
If you are having trouble with your finances because of medical bills, high expenses, job loss or other issues, you may be wondering if you should try bankruptcy or attempt to consolidate your debts. One of your options might be a Chapter 7 bankruptcy, which would...
You know that you want to file bankruptcy. You’ve gone over all of your options. It seems to make the most sense. It’s been a trying year and this is the best way forward. What you’re really curious about isn’t whether or not this is the right decision, but how long...
People who have balances with creditors that they can’t pay often feel considerable stress. They might realize that they need to do something about the issue, but they may not have the ability to eke any more money out of the budget to pay for the bills. For those...
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...
