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Is Chapter 13 Bankruptcy the Right Way to Eliminate Credit Card Debt?

Credit card debt has overwhelmed many families in the United States. While credit cards are really only intended to be used in limited situations, they have become a way of life. People use their credit cards for many or all of their purchases, often with no way to pay those debts back. Until recently, credit… Read More »

The Most Common Reasons for Filing Bankruptcy Aren’t What You Think

Many people believe that bankruptcy is only for those who are financially irresponsible. Bankruptcy is wrongfully portrayed by the media as being a get-out-of-jail free card for those who don’t want to work. In truth, bad financial habits are not the most common or even the second-most common reason for filing bankruptcy in the United… Read More »

How to Deal with Medical Debt

According to a study from the American Journal of Medicine, medical bills caused 62 percent of all bankruptcies in 2007. Notably, 80 percent of all people who filed bankruptcy from medical debt that year had health insurance. Clearly, medical debt can be a major problem in America, and it’s often impossible to predict. If you… Read More »

Should I File for Bankruptcy to Eliminate Medical Debt, Even If I Have Good Credit?

Medical debt is the leading cause of bankruptcy in the U.S. today, affecting people of all ages – and in all financial situations. It’s never easy to take on medical debt when you’re already struggling with a slew of other money troubles. But what if, until now, your credit has been close to perfect? Even… Read More »

When Delinquent Debts Sneak Up on Consumers, Bankruptcy Comes to the Rescue

More than one third of Americans have delinquent debts, according to a new study – and the only thing scarier than that statistic might be the fact that many don’t even realize they have debts in collections. A recent Urban Institute survey found that 77 million people, or about 35 percent of U.S. adults with… Read More »

When Unpaid Medical Bills Damage Credit, Bankruptcy May Offer Relief

It’s not just unpaid credit card bills and mortgage payments that hurt your credit. Increasingly, Americans are seeing their credit scores drop when their medical bills wind up in collections. A recent study by the Consumer Financial Protection Bureau shows that people with unpaid medical bills see lasting impacts to their credit records – even… Read More »

How Unpaid Medical Debts Damage Credit Scores

When you’re recovering from injury or illness, paying bills might be the last thing on your mind. If so, you’re not alone: Medical bills are the most common form of delinquent debt in the U.S. But left unpaid, medical debt can add up to a world of pain. According to the Fed, nearly 1 in… Read More »