Medical debt is well-known as one of the top reasons that Americans file for bankruptcy. Even in cases where it is not the sole issue – i.e. when someone also has credit card debt or other lines of credit – medical debt is often listed as one of the reasons for a...
Bankruptcy
Why you shouldn’t feel bad about filing for bankruptcy
When asked why they don’t file for bankruptcy, some people say that they just feel bad about it. They do have overwhelming debt. They can see how bankruptcy would be helpful. But they just feel guilty filing because they think that they should instead attempt to pay...
How will bankruptcy change things? Not as badly as you may think
Deciding to file for bankruptcy is a huge decision, and it will probably change your life in many ways. It is natural to feel apprehensive about filing and concerned about any related hardships that may lie in waiting. However, bankruptcy does not necessarily leave...
Does bankruptcy stop foreclosure?
If you’re in danger of foreclosure, it is likely because you’re having financial troubles that have made it difficult to pay your mortgage. Missing one payment isn’t going to trigger a foreclosure case, most of the time, but missing a few payments in a row certainly...
Chapter 13 bankruptcy and the holidays – what you should know
This can be a difficult time of year to be considering or filing for Chapter 13 bankruptcy. While starting the new year off on the road to a financial future unencumbered by a mountain of debt is wise, getting through the holiday season can be a challenge. Among the...
How can bankruptcy protect someone’s financed vehicle?
For many adults, especially those with demanding careers or minor children, a motor vehicle is not a luxury. It is a necessity to meet the basic expectations placed on them on a day-to-day basis. They need a car to get to and from work or to take their children to...
How will bankruptcy affect your retirement?
Many look forward to retirement as a time for relaxation and enjoyment after years of work. Unfortunately, sometimes the unexpected derails those plans, and retirees are faced with overwhelming debt. What impact does filing for bankruptcy have on your retirement...
Real estate trends: Connecticut foreclosures have risen in 2023
Foreclosure filings in many U.S. regions appear to be on the rise in 2023, according to information provided by ATTOM Data Solutions. Unfortunately, Connecticut is among ten states with high foreclosure rates. From Jan. through June of 2023, nearly 2,500 properties in...
How credit cards trick you into spending too much
Credit cards are virtually indispensable for most consumers. They offer a great deal of convenience and flexibility when a major expense crops up. However, credit card companies don’t make money unless you carry a balance. That means they actively use a complex web of...
2 common causes of bankruptcy
Bankruptcy is a legal option available to those who are overcome by debts. The most common types of personal bankruptcies are Chapter 7 and Chapter 13. Chapter 7 is also referred to as “total” bankruptcy. In most cases, debtors are able to discharge all of their...