Bankruptcy isn't always easy, but it can be the right solution for some people who are struggling with money. Whether you're still working and are trying hard to make ends meet or cannot work as a result of your circumstances, it's important to know if and when bankruptcy may be the right choice for you.
An interesting possible bill could change the way sports betting works. In addition, it could impact those who gamble and then seek bankruptcy protection.
Medical debt can seem overwhelming, especially when you're dealing with trouble with your health. You may not be able to work as much as you'd like or be suffering from a disability that has reduced your ability to maintain a regular income.
People often have debts that they want to eliminate, and one question they may have is if they can only file bankruptcy for certain debts, like their credit cards. Normally, credit card debt can be discharged with bankruptcy, but you can't file only on one kind of debt.
Many people struggle with the idea of filing for bankruptcy because they believe it's the easy way out. They think that it is lazy or that it cheats the system.
Bankruptcy might seem like it's uncommon, but the truth is that it happens more than you may believe. One of the most common issues leading to bankruptcy in America is health care. Despite the Affordable Care Act's intentions, costs have risen and driven more people into debt. This has led to a continuation of people filing for bankruptcy because of health care.
Bankruptcy is sometimes something people need to help them get their finances back in order. Unfortunately, bankruptcy has a bad reputation. It's seen as the ultimate sign that a person was bad with money. The reality is that many people end up struggling as a result of injuries, the loss of jobs or unexpected debt. Many times, a person's ability to be "good with money" has nothing to do with the bankruptcy at all.
If you need to seek bankruptcy, the chances are that you're struggling with overwhelming debt or a lack of income. It's possible to get the majority of the debt discharged in most cases. For example, if your debts are all medical or on credit cards, there's a high likelihood that you can have it discharged through a Chapter 7 bankruptcy. If you earn too much for Chapter 7, you can opt to go through Chapter 13 bankruptcy instead and make monthly payments to satisfy lenders.
As a 30-year-old person, you never thought you'd be facing the financial difficulties that you deal with every day. You've worked hard, but between student loans, credit card debt and medical bills, you don't think you'll ever be out of debt.
Our attorneys sympathize with all Lakewood area residents who are struggling with debt. Personal bankruptcy is an effective way of overcoming debt and it comes with other benefits such as getting a fresh financial start and putting a stop to creditor harassment.