Category Archives: Debt

5 Signs You Should File for Bankruptcy

Filing for bankruptcy can seem scary and overwhelming, and tends to be something most people try to avoid. But in some situations bankruptcy can save you from a never ending stream of financial stress. If you’re feeling hopeless about your financial situation, bankruptcy might be the right choice for you. Signs You Should File For Bankruptcy If you’re at a crossroads and considering bankruptcy, these five warning signs will help you come to a decision. You’re living paycheck to paycheck and only … Read More

Can I File Bankruptcy on My Child Support?

If you’re swimming in debt, you may be considering filing for bankruptcy. Further, if one of your major sources of debt is child support, you may be thinking about bankruptcy as a way to get out from under that debt. However, we do have some bad news in this case: your child support is exempt from bankruptcy stops. Child Support as Priority Debt Child support is known as a “priority debt.” This means that your child support debt is more important than … Read More

At What Point Should I File Bankruptcy?

Deciding when to file for bankruptcy can be tricky. In some situations, filing too early can mean losing property you may have been able to keep. It can also mean having to file for Chapter 13 instead of Chapter 7 bankruptcy. You may even be able to avoid bankruptcy all together. Knowing when to file is not always a science, but this article aims to help make that decision a little easier. When You Should Wait Before Filing Bankruptcy If … Read More

What Debt Does Bankruptcy Take Care Of?

Although bankruptcy allows you to eliminate some debts, it doesn’t get rid of all types of debt. Before filing for bankruptcy, it’s important to understand the types of bankruptcy and the kinds of debt they eliminate. <h2> Chapter 7 bankruptcy </h2> Chapter 7 bankruptcy is usually the easier option that allows you to eliminate more debt. Unfortunately, not everyone qualifies for this type of bankruptcy. If your average monthly income for six months prior to filing for bankruptcy is equal … Read More

Where do my Assets go if i Don’t Have a Will?

If you die before making a will, the intestacy laws of the state you lived in will determine how your property is distributed after your death. The property distributed includes your bank accounts, real estate and all other assets you owned. Intestacy laws vary depending on whether you were married or had children at the time of your death and this article explains how your property will be distributed depending on those factors. How marital status and children determine what … Read More