Category Archives: Bankruptcy
Emotions During Bankruptcy
There’s no putting a pretty spin on it: going bankrupt—whatever the reason—can be emotionally traumatic. Some have likened it to experiencing a severe physical illness. Despair is just one of the many feelings that may accompany financial duress. Some may be surprised to discover that there are some very positive emotions connected with filing… Read More »
Bankruptcy Exemptions
If you are thinking about filing for personal bankruptcy, you may be especially worried about having to part with your possessions. It’s a legitimate concern—since that is precisely what happens in many bankruptcies. Understanding the rules and laws related to exemptions is important before you take the plunge into bankruptcy. Exempt and Non-Exempt Property … Read More »
Bankruptcy: Should You File Before or After the Holidays?
If financial problems have you in a quandary and you are considering filing for bankruptcy, you are not alone. In 2023 alone, nearly half a million bankruptcy filings occurred, compared to just about 390,000 filings the previous year. After decades of a decline in the number of bankruptcy cases, the numbers are inching upwards… Read More »
Bankruptcy Glossary
For people on the precipice of bankruptcy, the thought of entering a confusing and convoluted process can be overwhelming, if not terrifying. Understanding the process and the possibilities of bankruptcy starts with a basic understanding of the terminology common to bankruptcy proceedings. A handful of the important terms worth having at least a general… Read More »
Medical Bankruptcy
Healthcare costs can be crippling. In 2022, research shined the light on just how devastating medical debt can be, noting that two-thirds of all bankruptcies involved medical debt. That’s about 530,000 bankruptcy filings annually, all situations impacting normal, everyday families who just happened to have to deal with a catastrophic medical issue. And even… Read More »
Crypto and Bankruptcy
With cryptocurrencies all the rage these days, consumers may be dismayed to learn that, although their assets are protected from some dangers by using external wallets or crypto wallets, when it comes to a cryptocurrency platform going bankrupt, their crypto may be at risk. Did You Know? When it comes to crypto platforms, there… Read More »
Bankruptcy Discharge or Dismissal?
For individuals who want to reset their finances and get a fresh start, bankruptcy can be a great opportunity. But the process can be demanding, with a number of regulations that must be followed. If everything goes according to plan, debt can be discharged. If rules are ignored or broken, the case can be… Read More »
Bankruptcy Will End Creditor Harassment
You owe money, and creditors won’t let you forget it. The distress and humiliation you feel have become overwhelming. But did you know that, while creditors have every right to chase down money owed to them, they are not allowed to actually harass you. What Constitutes Harassment? Naturally, creditors may take reasonable actions to… Read More »
The End of Bankruptcy Protections for Giuliani: a Lesson for You
One of the most important reasons that people file for bankruptcy is that they want to escape the relentless pressure that creditors place on them. It appears that former New York City mayor Rudy Giuliani may have hoped for just those protections when he filed for bankruptcy months ago, and, while it worked for… Read More »
Bankruptcy Comes for All Kinds of People for All Kinds of Reasons
People file for bankruptcy for all kinds of reasons. If you’ve been considering it, chances are you, like millions of Americans, have been stressed about debt and see no other way out from under it. In fact, in the last year filings for bankruptcies have increased by 16 percent, with nearly half a million… Read More »