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Signs You May Be Headed for Bankruptcy


Times are tough for a lot of people. Working two jobs, living paycheck-to-paycheck, and always skimping on necessities may seem like a normal situation for many people, but it may mean you are headed on a collision course toward bankruptcy. Do you know the signs that you may be headed toward bankruptcy?  For most people who file for bankruptcy, the...

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Retirement Accounts and Your Bankruptcy Case 


If your financial situation is stressful and filing for bankruptcy seems inevitable, you may be wondering what happens to some of your plans for the future. For example, what happens to your retirement savings account through your work? Will your relaxing retirement years be lost because you find yourself in financial trouble right now?  Many debtors consider avoiding bankruptcy in...

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The Means Test Explained 


If you are considering filing for Chapter 7 bankruptcy then you may have heard of the Means Test. The test basically determines whether your income is low enough for you to file for Chapter 7 bankruptcy.  Since Chapter 7 bankruptcy is known for debt forgiveness and discharging the debt, passing this means test determines whether your debt can be wiped...

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Cancer Survivors Face Financial Hardship 


A cancer diagnosis means a lot of uncertainties. It may mean surviving surgeries, chemotherapy, and radiation. It may mean multiple hospital stays and expensive medication. Unfortunately, cancer can not only take a toll on the body but on a bank account as well.  According to the US Centers for Disease Control and Prevention’s (CDC) Morbidity and Mortality Weekly Report, about...

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Divorce and Bankruptcy


Are you facing a potential double whammy – divorce and bankruptcy? Many people cite divorce as a leading reason for bankruptcy filings, and others indicate that bankruptcy or financial issues are a leading reason for the divorce. So, as you can see, there are many instances where divorce and bankruptcy are not only interrelated but also intertwined. Let’s take a...

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Changing Demographics of Bankruptcy Filers


In the 12-year span from October 1, 2005, to September 30, 2017, about 12.8 million consumer bankruptcy petitions were filed in the federal courts, (U.S. Courts). That breaks down to almost a million consumers a year. If you were one of the millions who did find the need to file, did you feel alone or like it was the end...

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