In most cases, there are some debts that cannot be discharged in bankruptcy. Those may include child support obligations, tax obligations and student loans. However, there are cases where people may be able to have their taxes forgiven and discharged in bankruptcy....
You might have seen your financial issues coming. Perhaps your spouse lost their job and your budget took a blow, forcing you to put staples like utility bills and groceries on credit cards. Doing so was a calculated risk, but it is easy to overextend yourself with...
When homeowners fall into debt, they may get into a situation where their mortgage is only one of their many types of debts, and they may struggle to keep up with repayments on this loan as well as others. This is particularly common when a person has unexpectedly...
One of the most stressful things about owing money to creditors and being unable to pay is having to deal with the collection attempts. Many creditors are ruthless in these attempts, which can include phone calls, letters, emails and even personal visits. Getting...
With Chapter 7 bankruptcy or Chapter 13 bankruptcy, you may have the option of keeping your vehicle. However, there are requirements that have to be met. For example, in a Chapter 13 plan, the creditor needs to agree to your new repayment schedule. The plan will need...
Credit card debt is not the sole cause of consumer bankruptcies, nor even the most common reason. That honor goes to medical debt. But credit card debt does play a significant role. Many people who find themselves facing excessive debt are surprised by their own level...
Americans pay as much as $33 billion in child support annually. Yet, fewer than one-half of custodial parents ever receive the full amount that a judge orders the non-custodial one to pay. While many parents understand the consequences of not paying the child support...
Your debt has reached the point where you’ve determined that bankruptcy is the best way to reset your financial situation and get a fresh start. You’re also planning to get married soon. You may be embarrassed to tell your soon-to-be-spouse about your plans and even...
A bankruptcy can be scary, especially if you’re worried about other people in your family and their possessions. Many people with children worry that a bankruptcy will affect their kids and result in their losing the assets that belong to them. You might be concerned...
As you prepare to file for bankruptcy, you want to get copies of your credit reports so that you have a clear picture of who your creditors are and how much you owe them. What happens if you see a debt you recognize? Maybe there is a large overdue medical bill you...