The Burden Of Medical Debts: How Chapter 7 Or 13 Bankruptcy May Help Relieve You Of Your Debts
5 May 2015
A common misconception is that poor spending habits and maxed out credit card bills are the biggest cause of bankruptcy in the U.S. Unfortunately, the truth is much more sobering. Studies have shown that medical bills are actually the most common cause of bankruptcy in the U.S. with over 2 million Americans affected in 2013 alone. The cost for medical care in the U.S. is notorious for being expensive, and at times unaffordable, with an ambulance ride of only 200 feet costing as much as $3,421.
4 Things You Should Do Before Filing Bankruptcy
9 April 2015
Filing for bankruptcy requires careful planning. And believe it or not, decisions you make and actions you take right beforehand could impact your case. To ensure you give yourself the best possible chance for a good outcome, here are four things you must do before making a final decision.
Take the Means Test
Federal laws work to not only protect you but also to prevent those who make a lot of money from filing bankruptcy.
2 Facts To Understand Before Filing For Chapter 7 Bankruptcy
25 March 2015
If you have a significant amount of credit card and overdue bill debt that you simply cannot pay off, then it may be in your best interest to file for Chapter 7 bankruptcy. Chapter 7 bankruptcy involves the liquidation or selling of property. Once property is sold off, the proceeds are divided up amongst the various debtors you owe money to. The bankruptcy process can be long, complicated, and confusing. This is why many people hire bankruptcy attorneys.
When Can Chapter 13 Bankruptcy Cases Be Modified?
24 March 2015
When you enter into a Chapter 13 bankruptcy, you will be placed on a repayment plan. This plan will stay in place for a predetermined amount of time, and you will be required to make the payments specified in the original arrangement. While this plan normally doesn't change, there are exceptions to the rule. If your circumstances change significantly, the trustee handling the case may decide to modify the plan, and here are three changes that could lead to this.