Anyone who faces bankruptcy or has already filed understands how hard it is. It starts with some difficult decisions and then there is a follow-through that demands sacrifices (financial and otherwise) before a person rebuilds their credit rating. One modern...
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Bankruptcy
The side effects of debt
Any person burdened by crippling debt faces many difficult challenges, but some look at it as an illness that never completely goes away. Like an illness, debt can come with many side effects that can even manifest themselves in physical pain and suffering as well as...
Number of farmer and rancher bankruptcies increase
Many predicted that the president’s trade war with China would impact U.S. farmers and ranchers. Now according to a new report, this is happening as the impasse continues. The number of farmers and ranchers filing bankruptcy since the spring of 2018 has jumped...
Can credit card debt bankrupt surviving family members?
Statistics show three out of every four people will die in debt, and credit card bills don't go away just because a person dies. In some cases, those debts can be passed along to a deceased person's loved ones here in Texas. Assets from an estate are used to pay off...
Who is most at risk for student loans?
There are a few ways where individuals can get their student loans discharged in bankruptcy, but typically people are stuck paying them. According to a recent study, 45 million Americans have student loans that amount to $1.6 trillion. It is important to remember that...
Famous folks who bounced back from bankruptcy
Many who file for bankruptcy know that they are doing the right thing, but they likely still have mixed emotions about it. Nevertheless, they are hardly alone -- there were 767,721 bankruptcies filed by non-businesses in 2017. While there have been many average...
Creditors can be held in contempt
The Supreme Court of the United States recently unanimously ruled in Taggart v. Lorenzen that creditors could be held accountable if they continue to harass those who have had their debt discharged through bankruptcy. This ruling vacated the Ninth Circuit Court of...
Beware of medical debt malpractice
Medical debt is one of the biggest causes of bankruptcy in the U.S., so it is no surprise that debt collectors commonly attempt to collect millions of outstanding bills. Unfortunately, the public interest group reports that some of these businesses are using...
Will student loans be included in bankruptcy?
Many are surprised to find out that student loans are one of the few debts that are not discharged through bankruptcy relief. However, there is now a bill called the Student Borrower Bankruptcy Relief Act of 2019, which has bipartisan support from U.S....
Common mistakes when filing bankruptcy
Filing bankruptcy is one of the most difficult things many will do. However, it can also be one of the smartest things an individual or couple can do to regain control of their lives. Once the decision is made to do it, there is a sense of relief. But there is a...