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?
Your senior years are supposed to be your "golden" years -- but many seniors these days are finding themselves unable to manage their debts and living expenses. Even though the nation is prospering economically, many seniors are being left behind due to social changes that have affected their finances.
You generally take care not to spend more than you earn. You understand the value of some debt, like taking out a mortgage. However, you never make excess purchases on credit cards or rack up more debt than you can afford.