Deciding to file for personal bankruptcy is a tough choice, but you shouldn’t beat yourself up over it. Bankruptcy is specifically designed to help disperse the cloud of debt hanging over you. And it’s probably more common than you think: More than 430,000 people filed for bankruptcy in ...
The first part of filing for bankruptcy is determining whether it is the right call for you. It's a huge undertaking, so ask yourself the important questions. How long will you likely have to repay these debts for? Are you legitimately unable to make the necessary payments? Can you compile...
Bankruptcy is a great way to help you free yourself from the shackles of your debt, however, it may not be thebest optionfor you. You may be eligible for bankruptcy if you are overwhelmed with debt and can, unfortunately, not see a light at the end of the tunnel; if you have hardly...
Having to hire and pay an attorney several thousands dollars is also a daunting prospect for those in financial turmoil, but Lawless said a lawyer is a better option than filing for bankruptcy yourself or looking to consumer credit counseling — a service that is typically for-profit and has ...
Anyone living in New York who is considering bankruptcy needs to learn both about bankruptcy procedures in general and also state laws about bankruptcy. Filing for bankruptcy is not something to be taken lightly since it can have a lasting impact on fina
If it's the right decision, don't wait.Once you consider the other options and realize bankruptcy is right for you, then there's no need to waste time second-guessing yourself. "In some ways, [filing for bankruptcy] is just calling it what it is. If you can't afford to pay it, ...
Let’s face it, there are a ton of reasons you shouldn’t file bankruptcy, and there are a ton of people telling saying to avoid it at all costs. The excuses given are vast, and many complete nonsense. Most are self-serving to someone other than yourself, and almost all are for bene...
for bankruptcy, a bankruptcy attorney can help guide you through that decision and counsel you on the best way to rectify your financial situation. If you find that you simply cannot afford an attorney under any circumstances, there are many do-it-yourself resources available to you. Just make...
If you find yourself unable to handle your debts, there are steps to take to get your finances in order. Declaring bankruptcy may not wipe out your student debts. A bankruptcy stays on your credit report for seven to 10 years. 1. It Won’t Wipe the Slate Clean ...
Bankruptcy does not come without cost, however. In the short term, it is recommended that you hire an attorney to walk you through the process, which means you need to be able to pay those fees. In the long run, bankruptcy will remain on yourcredit reportfor seven or 10 years, dependin...