When you have a high amount of credit card debt, bankruptcy is often a good solution even if you are a high income earner. In a bankruptcy the court considers equity in assets and income compared to expenses in determining whether you can eliminate the debt or whether...
Month: July 2019
Medical bills are the leading cause of bankruptcy
Nearly 67% of all personal bankruptcies in the U.S. are related to medical bills. This shocking percentage makes medical bills the leading cause of bankruptcy. Serious medical conditions can be extremely expensive, and Americans are unable to afford the...
Retailers Struggle to Avoid Bankruptcy
On line shopping and high rent costs, among other things has caused multiple retailers to seek protection in Chapter 11 bankruptcy or file Chapter 7 bankruptcy and close. Competition from on line sellers combined with high operating costs are the leading causes. It...
Why more older Americans are filing for bankruptcy than in 1991
If you have considered filing for bankruptcy, then you may understand the feelings of fear and uncertainty that come with it. Though it’s a chance to start over financially, it’s not something most people want in their lives. But for many older Americans,...