Student loan debt has reached epidemic proportions in the U.S. Millions of young people, along with lots of middle-aged folks and older adults, are struggling with huge student loan payments that are dominating their financial lives and causing them a good deal of...
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Chapter 7 versus debt management plans (DMPs): Pros and cons
Nobody wants to stay immersed in the soul-crushing stress of debt, with its harassing phone calls from lowlife collection agents, the shame and embarrassment you feel and the fights it causes in your marriage or family. Whether the debt came from a divorce, a layoff,...
Chapter 7 bankruptcy: Will I lose my money and my property?
Chapter 7 bankruptcy is a legal, constitutional way to discharge debt that you can't afford to pay off. Millions of Americans have used this type of bankruptcy, often called a liquidation, to get rid of credit card debt, medical bills and other burdens that were...
The bankruptcy monkey trap: Letting go of that credit score
If you have been deeply in debt for a long time and you are still longing for a way out, you may already know in your heart that bankruptcy is the only viable solution. Maybe you're still clinging to the high credit scores you've always worked hard for. Your very...
Chapter 7 bankruptcy and foreclosure: Focus on the right things
Being in serious debt can cause a world of stress and anxiety for you and your family. The constant phone harassment from collectors, the threatening letters and the resulting loss of sleep can set you on edge and make it difficult to focus on work and family...
Bankruptcy decisions: Do you really need to “save your home”?
Being in serious debt can bring on intense feelings of fear and even panic episodes. Many times, the debt is a result of a problematic life event like a job loss, a divorce, a medical crisis or a business failure. Above all else, many consumers lose sleep at the...
The hardest thing about bankruptcy? Swallowing your pride
If you're in serious debt, you may already understand that you can't get out on your own. You would know because you've already tried for months or, more likely, years. You may be in real financial trouble because of a job loss, a business downturn, a divorce, an...
Chapter 7 and your credit card debt: WHAT credit card debt?
Credit card debt can rack up quickly, especially if you've been through a job loss, a divorce, a medical problem or another serious difficulty. Seemingly overnight, your monthly payments can skyrocket, your interest rates and fees can explode, and debt can beget much...
Life after Chapter 7: So WHAT if your credit is shot?
Being in serious debt is a lot like being in prison, emotionally . You may feel trapped and anxious for months or even years, with no relief. The overwhelming majority of Americans who are considering Chapter 7 bankruptcy are under financial stress because of medical...
Problematic debt: 5 signs that Chapter 7 could improve your life
A serious debt problem can affect every area of your life. You may be consumed with anxiety about bills you can't pay. You may feel hopeless and come across as angry and irritable with your spouse, children or other family members. You may be exhausted and unable to...