Past posts on this blog detailed some of the differences between the various forms of personal bankruptcy. Many people in Michigan may wonder why anyone seeking bankruptcy protection would try and file under Chapter 13 given that it does not offer the comprehensive...
Credit card debt is a huge issue for many people, and it does not just affect those who are bad with finances. It can happen to anyone. Out of control credit card debt is not always the result of not being responsible with your credit. U.S. News and World Report...
Some people fear filing for bankruptcy, believing it will cast a stigma that will be hard to recover from. In reality, many people have successfully used bankruptcy to get out from under burdensome debt and return to fiscal solvency. One of the valuable tools...
When unexpected financial strife affects your ability to pay debts, you may find yourself quickly overwhelmed and unable to catch up. The loss of a job, an illness or other issues may cause this circumstance, but Chapter 7 bankruptcy could help. Forbes reports that...
If you have too much debt relative to your income, you may have trouble securing a mortgage, auto loan or any other type of financing. In fact, the U.S. Consumer Financial Protection Bureau notes that any debt-to-income ratio above 43% is likely to be problematic....
Filing Chapter 7 may be intimidating at first because it is a liquidation process, which means the court can seize your assets and sell them to repay your debts. However, the court does not want to leave you destitute after your bankruptcy. The goal is to help you get...
Chapter 7 bankruptcy processes may give you options for paying back your creditors when you no longer have a source of income or your debt far outpaces it. According to the United States Courts, both individuals and companies may file for this type of bankruptcy once...
If the recent economic downturn hit you hard, you may face serious financial difficulties that put you in fear of losing your home to foreclosure. You consequently may wish to consider filing Chapter 13 bankruptcy. Why? Because as US Courts explains, Chapter 13 can...
If you have just filed for bankruptcy, a credit card is likely the last thing that you need or want. However, not all credit cards are equal, and some of them can be a great tool to help you rebuild your credit score in the aftermath of filing bankruptcy. Secured...
Buying a home is a major investment, one that is truly worth it to provide your family with a place to grow. However, securing a mortgage is really the first part of the battle. You must also ensure that you can handle the debt associated with homeownership to stay...
