One way bankruptcy helps people in dire financial straits is by discharging certain debts. This means you are not obligated to pay them off. However, judges will not allow the discharge of debt if they suspect the debts are fraudulent or that the debtor is trying to...
Month: June 2023
How to rebuild your credit score after money problems
Credit scores are a vital part of determining access to rental properties, financing and even insurance. Employers often run credit checks during the hiring process as well. Facing financial challenges can lead to poor credit score, which can interfere with your...
Navigating the means test in Chapter 7 bankruptcy
Bankruptcy offers an escape route when debts become overwhelming. If you consider filing for Chapter 7 bankruptcy, you need to pass the "means test." This examination determines whether you qualify to have your debts wiped out or discharged. The means test is crucial...
Most common reasons people need to file for bankruptcy
Filing for bankruptcy is a significant financial decision that individuals may undertake when they are unable to repay their debts. Here are some of the reasons people decide to file for bankruptcy. Medical expenses and healthcare costs One of the leading causes of...
