If you have a feeling (or already know) that you may need to file bankruptcy, it's important to pay attention to how you spend your tax return this year before you file.
When you're heavily in debt, it can be kind of like having a dark cloud hanging over your head every day. Getting rid of that debt is probably the No. 1 thing on your mind the majority of the time.
If you've fallen behind on your taxes, can a bankruptcy help?
Being broke and saddled with a lot of unpaid debts can be an incredibly lonely experience. More than likely, you see many of your friends and relatives through the filter of their social media accounts. That means that you see what they want to present rather than the whole picture. Most people don't discuss their financial woes that openly. It's easy to start to believe that you're the only person in your social group that's hiding from creditors or struggling to keep the utilities turned on.
You've probably heard it before a few dozen times: Your student loans are not dischargeable in bankruptcy. That's been true ever since 2005 when the Bankruptcy Abuse Prevention and Consumer Protection Act went into action.
One of the things that often stops people from filing for bankruptcy protection is the fear that they'll never have credit again.
Should you file for bankruptcy before or after a foreclosure?
Nobody really wants to think about their financial woes during the holiday season. However, if you're already planning on filing bankruptcy after the first of the year -- or even think that you might have to consider it -- you might want to consider talking with a bankruptcy attorney sooner, rather than later.
Baby boomers are largely approaching their "golden years," yet many boomers are finding themselves struggling financially. In fact, more seniors than ever are filing for bankruptcy -- and experts don't think that trend will reverse itself any time soon.
Are you putting off filing for bankruptcy because you keep hoping that you'll discover a miraculous way to turn your financial situation around?