One of the problems with bankruptcy today is that it doesn't address the looming problem of student loans. For many people in America who have crippling debt, the issue isn't that they don't make enough money or that they aren't good with it. The reality is that their student loans can cost them as much as a mortgage payment each month, straining their finances significantly.
It can be difficult to imagine yourself going through bankruptcy, especially if you were always good at managing your money. You may be distressed over the fact that you lost your job, became disabled or suffered other problems that caused you to fall behind on your bills.
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.