Though I rarely recommend bankruptcy (usually because the person does not qualify or the debt is $25K or less), sometimes this is the only route. The laws were rewritten in 2005, and confusion still abounds.
Even the rich file bankruptcy. I’ve certainly seen this happen – and it can happen quickly. Even for people [...]
Tags: Bankruptcy·court·Credit Score·Debt Settlement·expensive·home mortgage·personal bankruptcy
Many people think that having bad credit is always someone’s fault. In today’s economic environment, foreclosures are happening right and left and the job market is the worst since 1983. As a result of this crisis, the number of people with bad credit (not just a few missed payments) is increasing. [...]
Tags: bad credit·Bankruptcy·Credit Report Errors·Credit Reports·divorce·health insurance·Identity Theft·Medical Bills·un-employment
It is more bad news for the United States economy, as data recently released by the Administrative Office of the U.S. Courts indicates both consumer and corporate bankruptcy filings increased dramatically in 2009.
According to the report, the total number of U.S. bankruptcies filed during the first three months of 2009 increased 34.5 percent over the [...]
Tags: 2009 bankruptcy data·Bankruptcy·bankruptcy alternatives·bankruptcy filings increase·business bankruptcy·consumer bankruptcy·increased bankruptcy filings
Despite having health insurance, many bankrupt families were overwhelmed by their medical debts, the team at Harvard Law School, Harvard Medical School and Ohio University reported in the American Journal of Medicine. The researchers, funded by the Robert Wood Johnson Foundation, said the share of bankruptcies that could be blamed on medical problems rose [...]
Tags: Bankruptcy·harvard Law School·Harvard Medical School·health insurance·job loss·Medical Bills·medical problems·middle-class·Robert Wood Johnson Foundation
