Choosing to file bankruptcy is a personal decision, and debtors must consider the benefits and ramifications before they choose to file. If you're considering bankruptcy, very few limitations may stop you from filing. Because there are few laws that dictate when you can file for bankruptcy, it's eas

Sixty-two percent of bankruptcies in 2007 involved medical debt, and most medical bankruptcies involve middle-class families with homes and college-educated breadwinners, reports a study by Harvard and Ohio University researchers published in "The American Journal of Medicine" in 2009. Bankruptcy, h

Based on their religious backgrounds and personal philosophies, people have widely varying views on the ethics of debt. Within the context of America's Judeo-Christian foundation, debt itself is not considered immoral or even unethical. However, how someone undertakes and follows through on debt mat

During these rough times in our current economy, more and more Americans are opting to file Chapter 13 bankruptcy. Many people are finding that it is the only way out. A strong desire to be free of piles of bills that there is no money to pay and harassing phone calls from lenders is often the main

Bankruptcy is a haunting experience that you wouldn't want to go through more than once. Unpaid bills for several months and years just kept piling up and your creditors kept hounding you. However, you got through it and survived. After getting back to your feet, repairing credit should be your

Consumers who are drowning in a sea of debt and are seeking assistance will be relieved to know here are several places to turn for help. From do-it-yourself debt reduction to nonprofit debt management services to consolidation loans, there are many options to consider, especially if you are conside

Chapter 11 bankruptcy in New Jersey is a legal process in which a New Jersey company can restructure its debt, discharge some unsecured debt and continue to operate. Chapter 11 is often referred to as "reorganization bankruptcy." Chapter 11 bankruptcy allows a debtor company to obtain a...

One of the obstacles that keep people from considering bankruptcy as one of their options is the cost.Many assume that the cost to declare bankruptcy is too high and will simply add to their current financial problems.After all, if a consumer is struggling to pay off current debts as it is, how will

If you have borrowed money through credit cards or personal loans and do not have the ability to pay them back, you may be at the mercy of high interest rates and finance charges that never allow you to be free of the debt. A debt consolidation loan can help you pay off your debts faster by making

Medical Debt and Credit ImpactFirst, the good news: Medical debt may not have much of an effect on credit scores. Because it's often not factored into the utilization ratio that composes a FICO credit score, that number doesn't change. However, this isn't the case if the bill is presented...

If you do not pay your bills as promised, creditors can sue you and in some cases even garnish your wages. While filing personal bankruptcy protects you against the financial consequences of some lawsuits, it cannot resolve every type of financial problem you have. The Bankruptcy Abuse Prevention an

The decision to file for bankruptcy protection can be a stressful one. The process is actually painless, but you don't know that from the get go. This leads to sleepless nights as you wonder what ...

After accumulating a large amount of debt, filing for bankruptcy might be the only way that you can get out of it. If you suffer from extenuating circumstances that will not allow you to repay your debt according to the terms of your agreements with creditors, bankruptcy can give you some help in th

Overwhelmed about how to file bankruptcy? If so, you are not alone. The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was enacted by Congress in 2005 to reduce the number of bankruptcies filed by ...

Becoming debt free is the dream of many people who suffer from large amounts of debt on a regular basis. Several legal avenues exist to help eliminate your debt and become debt free. Among them are debt consolidation, debt settlement and the debt snowball.Debt ConsolidationDebt...

Whether you owe the Internal Revenue Service or a credit card company money that you cannot afford to pay, you can apply for several types of federal debt relief. Not all taxes are eligible for bankruptcy, so in some cases you must apply for a payment plan directly with the taxation agency. Business

Anyone who has ever gone through the emotional pain and stress associated with bankruptcy will tell you that bankruptcy was not something they 'planned' or considered to be a part of their future plans. You CAN take control.

Since the financial markets bolted down in 2008, it seems that nothing is really getting much better. Unemployment is staying right around 10% and the funny thing about that is the way it's reported is that it only counts the people that are receiving unemployment benefits. If you consider all

After filing for Chapter 7 bankruptcy many people suddenly find themselves in need of transportation. While it is best to wait as long as possible to obtain new lines of credit, there are some situations where waiting just isn't an option. If you, or someone you know, needs a vehicle after filing fo

Following the last ten years where the government has actively encouraged borrowing, we are facing an insolvency crisis. Many families and individuals have been using their credit cards to pay for day-to-day spending, which has resulted in huge debts.