When you have so much debt that it seems like you’ll never pay it off, bankruptcy can seem like your best or only option. But declaring bankruptcy carries long-term consequences that make it worth avoiding if you can. Learn how to avoid bankruptcy and why you should consider your other alternatives.
Filing for bankruptcy can be a long and stressful process, but it doesn’t have to be. To give you an idea of what to expect, here is an overview of the types of bankruptcy available to individuals, the bankruptcy filing process, and some common pitfalls to look out for.
Many people who file for bankruptcy look at it as a chance to erase their debt and start over. Although that’s true for some bankruptcy cases, not all debts are treated equally. Read on to learn how different types of debt are treated in bankruptcy and how you can avoid any surprises in the process.
Few life events are as stressful as bankruptcy. Every penny, asset, and source of income is put under the microscope for dissection. When it’s over and you finally receive your discharge or dismissal, you realize you’ve only reached the end of one set of challenges. Yes, the bankruptcy and debt collection threats are behind you,
$1.2 million is a lot of money. According to a 2014 study by The Hamilton Project, that’s about what the typical four-year degree holder earns over the course of their career. Some majors earn more – up to $2 million or so. Others earn less – just $800,000. Other factors, including geography and career trajectory, obviously
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