Some lawmakers have proposed bills canceling all student debt across the United States but is that really possible? It is estimated that combined student loan debt throughout the nation is $1.6 trillion. In addition to this debt forgiveness, one bill proposes free...
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Three companies that prospered after bankruptcy
Bankruptcy does not have to be the end of the road for your business. In fact, your company may benefit from filing for Chapter 11 bankruptcy. If your company is facing financial challenges and is in danger of going out of business, filing Chapter 11 bankruptcy may be...
Debt relief for former Tennessee ITT Tech students
ITT Technical Institute closed all locations and filed for bankruptcy in 2016, leaving students with thousands of dollars in debt. ITT Tech was a for-profit institution that operated for nearly 50 years and had campuses around the country, including locations in...
Getting out of debt: Athletes who have used bankruptcy protection
We like to blog about celebrities who have used bankruptcy to get out of tough debt situations. We think it's important to remember that we all face hardships and make mistakes in our lives. Recent news stories have shown us numerous actors, musicians, business people...
Post-bankruptcy success stories: Celebrities who bounced back
Many of us are familiar with the stories of famous people who got rich and then seemingly "lost it all," declaring bankruptcy and tanking financially. Some of the best known are entertainers, business leaders and politicians. But how much do we know about the ones who...
Stress and money problems: What debt can do to the body and mind
We all know that being in debt isn't fun. And most of us understand that prolonged financial problems can put great stress on us and our families. But what, specifically, does that stress DO to us psychologically and physiologically? It's a tough question without easy...
Do scary foreclosure letters mean that you’ll lose your home?
If you are more than a month behind on your mortgage payments, you have likely received a barrage of scary letters from your mortgage servicer. Maybe you're behind because of an income loss -- a layoff, a decrease in your pay or a bad stretch for your business,...
Wage garnishment and bankruptcy: Fixing a crisis situation
Most of us hate the feeling of not being able to repay a debt. If you're struggling to make payments and collection agents are harassing you, threatening to take your assets or bothering your friends, family members or neighbors, it's easy to become depressed and/or...
Is bankruptcy a recession-proof solution to problem debt?
Yes, it is. If you qualify for it. Now that we have an answer, let's talk about the relationship between recessions and bankruptcies. Recessions, which Oxford Dictionaries defines as times of economic decline lasting two quarters or more, have long been part of bigger...
Starting fresh: Is bankruptcy a good New Year’s resolution?
When the holidays come to an end, there can be a lot of emotion. You may be sad that the fun is over and bummed out that you have to get back to work. Perhaps you feel relieved to be done seeing certain relatives. Or you might be excited about plans for the new year,...