When you file for bankruptcy, does the court take every possession you own to pay your debts? The answer is the court will never take everything you own, but you may lose some of your most valuable possessions and anything that isn’t exempt under bankruptcy law. One of the most-asked questions regarding bankruptcy exemptions is […]
Bankruptcy and Credit Rating
In some cases, it may take years to rebuild your credit fully and reach a point where you can apply for credit cards and receive the lowest rates on interest, as well as enjoy approval for car loans, personal loans, and mortgages. Read on to discover the relationship between filing for bankruptcy and your credit […]
Problems After Bankruptcy and What to Do
Designed as a way to give debtors a fresh financial start, bankruptcy helps many families start saving for their future rather than getting buried in an avalanche of debt. However, sometimes old debts may reappear even after bankruptcy, and dealing with them can feel like going through bankruptcy all over again. An essential step after bankruptcy […]
Declaring Bankruptcy with Student Loans
One of the first questions you might have about bankruptcy is whether bankruptcy will take care of your student loan debt. Unfortunately, the waters aren't so clear on this topic because several factors influence how student loans are treated during bankruptcy. Student Debt Reaching Record Levels One of the biggest topics in finance today is […]
Cleaning Up Your Credit Report After Bankruptcy
After receiving a "fresh start" through bankruptcy, you may want to return to the world of credit or start rebuilding your financial health. Bankruptcy is a life-changing event that will impact your credit report for at least a decade, but that doesn't mean you need to wait 10 years to start making strides toward a […]
Avoiding Financial Problems After Bankruptcy
The overdrawn bank account, pile of credit cards, and financial woes that drive debtors into bankruptcy might be the result of bad financial decisions, or they might stem from unfortunate experiences like job loss or an economic slump. Bankruptcy is an incredibly tough road to travel. Many debtors make a promise that they'll never again […]
Bankruptcy on a City Scale: Detroit’s Bankruptcy Plan
Bankruptcies of families and businesses during and after the recession were all too common. Most notably, the biggest victims from the Great Recession included entire cities and municipalities that saw their budgets falling into the red because of lost revenue, out-of-control retirement benefits, and poor fiscal planning. One of the biggest bankruptcies of a major […]
