Filing for bankruptcy can sound like a bad consequence to financial difficulties; however, bankruptcy is intended as a helpful way for people to get out from underneath their debt and rebuild their life, financially and otherwise. Additionally, there are different types of bankruptcy you can file for based on your circumstances. In Chapter 7 or “fresh start” bankruptcies, eligible debt is typically discharged without any requirement to pay it...
If you are feeling harassed by bill collectors or credit card companies, it might be time to consider filing for bankruptcy. Bankruptcy is a type of court proceeding in which a judge examines the assets and liabilities of a person filing for bankruptcy to decide if that person’s debts should be discharged; in other words, waiving that person’s legal obligation to pay their debts.
Medical bills, student loans, mortgage debt, and credit card...