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People may decide to file for Chapter 7 bankruptcy for a broad assortment of reasons. In some cases, personal financial hardship is what pushes an individual into bankruptcy. Job loss, divorce or medical challenges leave them unable to handle their financial...
Chapter 7 bankruptcy can be helpful for both people and businesses during times of financial hardship. Organizations preparing for dissolution often undergo Chapter 7 bankruptcy to eliminate financial debts beforehand. Individuals who can pass the means test may also...
Chapter 7 bankruptcy has known association with risk to personal resources. After all, Chapter 7 bankruptcy is sometimes also called liquidation bankruptcy. The courts can sometimes require that people sell off their assets or use their savings to cover debts as part...
Payday loans are frequently advertised as a fast and convenient option for addressing immediate financial needs. These loans can seem like a lifeline for individuals facing unexpected expenses, as they provide immediate access to cash. However, what starts as a...
Filing for Chapter 7 bankruptcy allows eligible individuals to discharge most unsecured debts and secure a fresh financial start. The process requires careful preparation and the submission of detailed information to the bankruptcy court. As such, it can be helpful to...
People thinking about bankruptcy often view it as the culmination of a difficult time. It may seem like the end of an era. Many people file for bankruptcy after a divorce, a failed startup or a job loss. While bankruptcy can be the last chapter in one part of a story,...
Many Americans suffer from a crippling financial burden that’s unheard of in many other industrialized countries – medical debt. Even people with health insurance are often left with massive medical bills amid a serious illness or after a devastating injury that are...
Some debts result from unbalanced budgets and similar challenges. Credit card balances, for example, often start small and accrue slowly over time. Other debts may arise with little warning. Someone involved in a car crash caused by an uninsured driver could go from...
Filing for personal bankruptcy is a difficult decision that can affect many aspects of someone's life. The need to take such drastic action can inspire people to look carefully at their circumstances and establish plans for their protection in the future. After a...
People who are drowning in debt often want to find a way to seek a fresh start. They may try to make payments on their medical bills, credit cards and other debts for a while but then realize it’s not possible to keep up and still pay for life’s necessities. If you’re...