When a person or business is unable to pay debts, sometimes the solution is to file for bankruptcy. Though these filings have been on the decline recently, experts believe the numbers will soon rise. Most people here in Michigan understand that filing for bankruptcy...
If you run a business, you know that the economy being at less than its best can take a toll. Unfortunately, that means that many restaurants are struggling right now.According to news out of Detroit, HopCat restaurant's parent company has filed for bankruptcy. Many...
Bankruptcy is not usually a product of poor financial decisions. It is something that happens because of events that are out of someone's control.Two of the most common examples are job loss and medical expenses. When you get fired without warning and lose your...
Those who are crippled by financial debts may feel like there is no way out. These debts can place such a heavy burden on every part of their life, causing them to feel constantly stressed and fearful about the future.Being relieved of all debt can feel like an...
A lot of people are experiencing tough economic times, so you're certainly not alone if your bills are mounting and you don't see any way back.If bankruptcy is starting to look more and more like it's your only option, it's wise to take some steps to prepare. At the...
If you were already dealing with debts, suffering the sudden loss of your job could lead you into serious financial difficulties. Without the funds to make your minimum debt repayments, you may be facing the loss of your home and be inundated with communication from...
Financial difficulties can leave people feeling extremely stressed, worried and unable to think clearly about their situations. Those with significant debts who become suddenly unemployed may immediately panic and decide to file for bankruptcy without thinking. You...
A lot of people are struggling with significant economic concerns right now. Unfortunately, many don't have enough money to pay all of their bills.Are you being forced to assess your bills and make some hard decisions about what to pay and what to skip because of your...
If you are currently facing huge debts and you don't know how you will be able to keep up even with minimum repayments, you should assess your options sooner rather than later. By considering your options for bankruptcy, you may be able to prevent losing your home,...
Chapter 7 bankruptcy is, in some senses, the cleanest way to eliminate your debt. Filing gives you a chance to wipe out what you owe and start over. That's different than Chapter 13, for instance, where you have to spend years paying off that debt.One thing to keep in...
