Yearly Archives: 2020

Life after bankruptcy is not easy. You have a fresh start, but you also have a lot of repair work to do with your credit, which has most likely taken a huge hit during the process. The good news here is that there are ways to bounce back after bankruptcy. While filing bankruptcy clears you of any obligation to pay past debts, it also leaves a mark that will be on your credit report for up to ten years.  You can recover and start working on rebuilding your credit immediately after your bankruptcy is discharged and get back on track so [...]

Filing bankruptcy is a relatively common -- and complex -- practice. In fact, according to the U.S. Courts website, nearly 13 million consumer bankruptcy cases were filed during a 12-year period spanning 2005 through 2017. Sixty-eight percent -- which is equivalent to 8.7 million -- of these were for Chapter 7 bankruptcy while 32 percent -- or 4.1 million -- were petitions for Chapter 13 bankruptcy. Nearly all of these filings were for consumer debt. 5 Bankruptcy Misconceptions Individuals Should Know Not surprisingly, there are a number of bankruptcy myths swirling around. These can make the process even more confusing than [...]