Downside of Filing for Bankruptcy

What Are the Negative Consequences of Filing for Bankruptcy? Filing for bankruptcy protection is seen as a declaration of your capacity to repay your creditors. The fact that you filed for bankruptcy and were granted protection will appear on your credit report for up to ten years.  Additional things to consider while considering the disadvantages […]

Declare Bankruptcy

Filing Bankruptcy The process of filing bankruptcy can be drastically simplified by hiring a local, qualified bankruptcy lawyer. There are many rules related to the federal bankruptcy code that makes trying to file bankruptcy yourself extremely difficult. For example, each state has its own long list of bankruptcy exemptions, and the courtroom meetings can sometimes be difficult […]

Will Bankruptcy Wipe Out All of My Debts?

Bankruptcy eliminates most, but not all, debts. Many major debts, including credit card debt, medical bills, broken leases, utility bills, repossessions, payday loans, and unsecured failed business debts, can usually be eliminated in bankruptcy. Certain other debts that cannot always be eliminated are criminal debts, some tax debts, student loans, back alimony, child support payments, […]

Medical Bankruptcies

What is Medical Bankruptcy and How Does It Work? The Bankruptcy Code does not cover medical bankruptcy. Therefore, the federal government does not provide it as a particular kind of bankruptcy relief. Instead, medical bankruptcy is the phrase used to characterize bankruptcy brought on by medical debt.  Astronomically expensive medical expenses burden many Americans as […]