New here? Start with these articles to learn about US bankruptcy, debtor bankruptcy
alternatives like debt consolidation, debt settlement, debt negotiation, and debt management.
You'll also learn the causes of debts that can lead you to file bankruptcy and how to recover
from it.
Personal bankruptcy is not the only alternative to getting out from under mountains of debt. Consider it a last resort. It will follow you for seven years on your credit report and forever as a federal court document. Court documents are open to the public.
Christina Costa | Bankruptcy Basics
This is very inaccurate, especially the “simple” part. Bankruptcy is far from simple. Yes there are various kinds of “do it yourself” kits on the market that allegedly show you how to file bankruptcy from the comfort of your kitchen table, but what they don’t tell you is that you don’t know how to file properly to retain as much of your assets as you potentially could, and that you may not even be approved to file.
Jay Anderson | Bankruptcy Basics
Most people who borrow money do so fully intending to repay the loan according to the agreed upon terms. Perhaps, at the time they borrowed the money, things in their lives were going well financially and having the resources to repay the debt was not a concern. Unfortunately, things can happen in a person’s life that can severely change their ability to satisfy their debts, such as a death in the family or losing their job. For these people, not only do they have to deal with whatever tragedy has befallen them, they also have to deal with angry creditors who have no sympathy for their plight.
Gregg Hall | Bankruptcy Basics, Debt Settlement
The two most severe forms of financial trouble that most consumers can imagine are foreclosure and bankruptcy. These two events often happen together, but it is not necessary that they do. A homeowner may lose the house through foreclosure and avoid bankruptcy, and likewise, a person may go through bankruptcy court while managing to keep his home.
Peter Kenny | Bankruptcy Basics
There is no hard and fast rule about how to avoid bankruptcy. The statistics show that the majority of people file for bankruptcy because they are buried under a mountain of debt that they cannot see over the top of, and they are getting deeper in debt every day because they are not even meeting minimum payments each month.
Jay Anderson | Bankruptcy Basics
