Medical bills are the number one reason for bankruptcy in the United States. Multiple studies have shown the in 25% – 50% of bankruptcies, medical debt was significant. However, the answer to the question ‘is medical bankruptcy a real thing?’ is ‘no’. While medical bills are a heavy contributor to
So, you made the decision to reclaim your life from financial trouble in 2018 and file for bankruptcy. When you file, you basically separate from your estate. You can think of your estate as a separate person. This can create some complexities during tax season. To add more into the
This phrase was coined in a paper published by the Social Science Research Network in August of this year. According to the paper, from 1991 to 2016, the bankruptcy rate for people over the age of 65 has risen 204%. Explanations include low income, scarce or failing pensions, and the
In March of this year, Claire’s began to crumble under the weight of just over $2 billion in debt. With stores in nearly every mall in America, the ear-piercing giant was feeling the decline of the mall as we know it. Unable to pierce ears over the internet, Claire’s has
Just about everyone in America has heard of Sears. They have been selling us anything from jack-hammers to mittens for over a century. The giant has been wobbling for some time and now they are officially filing for chapter 11 bankruptcy protection. Sears is one of the more notable victims
There are any number of reasons you can end up considering bankruptcy under Chapter 7. Now, you need to understand what it really is. First, you should understand that bankruptcy can mean a new beginning. The stress of dodging phone calls from creditors and the anxiety of checking the mail