You know you need to declare bankruptcy, but you don't want to let it wreck all of your financial plans for the future. You were hoping to buy a home and really settle in.
You know there are various types of bankruptcy that can be utilized when debt gets to be too much, labeled as "Chapters", such as Chapter 7, Chapter 13, and Chapter 11. Can you simply pick which one you want to use?
When you apply for bankruptcy, it's important to understand that it can be rejected. This shouldn't worry you or make you reconsider. It's just crucial to know that it's possible so that you take the time to do everything in your power to make sure yours is accepted.
Bankruptcy filings in Wisconsin have not been this low in nearly a decade. They hit a nine-year low in 2016, according to new reports.
It's true that many people gamble a little bit -- buying a lottery ticket when the payout hits a historic high, for instance, or going to the casino at a vacation resort -- and don't run into serious issues. However, for those considered "problem gamblers," a new report claims they average $38,000 in debt.
If you're retired and thinking about filing for bankruptcy, you should know that it can get fairly complicated. You need to know what property is exempt, what types of bankruptcy you can use, what the long-term impact will be and much more.
Think about declaring bankruptcy? If so, be sure you know that:
Perhaps you filed for bankruptcy last year, pulling yourself out of debt and getting a clean slate. Despite your best efforts, you're already looking at mounting debt again, and you're wondering if you can use bankruptcy yet again to get out from under it.
Bankruptcy is often caused by singular events that are unexpected, like the loss of a job or sudden high medical bills with no insurance. However, it can also be caused by bad financial habits that dig a hole over time.
Bankruptcy filings are often used as a gauge to measure some aspects of the American economy. As filings increase, it is assumed to be a symptom of individuals encountering hard times as they lose hours or jobs and they no longer have the income to pay their bills. When bankruptcy filings fall, it is presumed to be a sign that the economy is improving and that people are having an easier time finding work and experiencing wage growth.