The weight of debt can feel crushing, especially when fresh out of college and facing a mountain of student loans. The pressure to succeed, coupled with financial strain, often brings out feelings of anxiety and shame, causing isolation. But remember, you're not alone...
Personal Bankruptcy
Bad bits of money tips to avoid after bankruptcy
After declaring bankruptcy, it is natural to seek advice from friends, family or the Internet to avoid the mistakes that led you to this point in the first place. Still, many well-intentioned but misguided tips can do more harm than good. Avoiding these pitfalls can...
Are Millennials and Gen Z struggling with credit card debt?
Credit card delinquency rates among people in their 20s and 30s are rising, and it is easy to see why. Rent, groceries, healthcare—everything seems to be getting more expensive while salaries have barely increased in years. When your paycheck does not stretch far...
What should you tell your family about your bankruptcy?
Financial difficultly can strike no matter the strength of your family. It is not uncommon for even cautious planning to fail to account for devastation like medical emergencies, home repairs or divorce. Whatever the reason for the trouble, many Americans turn to...
Common myths about filing for bankruptcy: A guide for consumers
Bankruptcy often carries a heavy weight of misunderstanding. Many individuals grappling with debt find themselves tangled in a web of myths about this legal process. This blog aims to highlight common bankruptcy myths and provide clarity for those considering this...
Can you still borrow while repaying a bankruptcy plan?
Bankruptcy can feel like a fresh start, but what happens when you need to borrow money while still repaying your bankruptcy plan? You may need to apply for a car loan, pay rent or face other unexpected expenses. This blog will explore your options for borrowing while...
What does ‘undue hardship’ mean in student loan bankruptcy cases?
Struggling with student loan debt can feel overwhelming, especially when you have been juggling it along with other financial responsibilities. Fortunately, bankruptcy could offer you a path to relief. And understanding the 'undue hardship' standard is key to...
What happens to your car after you file for bankruptcy?
Michigan residents who are thinking about filing Chapter 7 or Chapter 13 personal bankruptcy petitions often wonder if they will be able to keep their cars if they seek debt relief. In most cases, the answer to this question is likely to be yes. Every state has...
Getting a home loan after bankruptcy
Filing for bankruptcy can often be an effective way to reorganize or eliminate debts. However, it can also make it harder to buy a home in Michigan. You will need to wait at least a year to obtain an FHA mortgage from a bank or credit union while it can take up to...
Millions of Americans pay overdraft fees each year
When Pew Charitable Trusts studied consumer survey data in 2018, the researchers found that almost 40 million people in Michigan and around the country pay at least one overdraft fee each year. The data also suggests that about a third of the people who pay these fees...