By Jeff Field | Published April 20, 2026 | Posted in Bankruptcy Process & Protections | Tagged Tags: debts, financial, Medical, obligations | Leave a comment
Bankruptcy offers several distinct forms of financial relief and protection for filers. It can be a lifeline for individuals, married couples, self-employed professionals and small business owners who are overwhelmed by financial obligations, often due to factors outside of their control. Medical debts caused by a sudden health problem, untenable credit card balances following a Read More
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One of the main reasons why people file for Chapter 13 bankruptcy is because they want to save their homes. Under this form of bankruptcy, filers can catch up on their mortgage obligations and repay other debts through a plan based on their income and expenses. When borrowers submit their proposed repayment plan, their mortgage Read More
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Pressing debt concerns such as money owed to credit-card companies or healthcare providers can often be alleviated by filing for Chapter 7 bankruptcy. In most cases, these types of debts can be discharged if the filing party qualifies under the means test and abides by legal directives. However, certain debts cannot be eliminated through a Read More
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Many people who would benefit greatly from bankruptcy protection hesitate to seek relief because of misconceptions about the process and what it means. Bankruptcy is not a punishment, but a powerful legal tool used to help individuals and businesses whose debts have become unmanageable. People from all walks of life and every type of profession Read More
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Chapter 13 is a type of bankruptcy relief that affords individuals protection from creditors as long as they pay off a portion of their outstanding debts over time according to a court-approved plan. The plan is supervised by a trustee, who acts as the court’s overseer throughout the process. The trustee plays a pivotal role Read More
Read MoreA recent decision by Bank of America and JP Morgan will provide some additional relief to people who have filed for bankruptcy across the United States. The two companies finally reached an agreement to update the credit reports of borrowers within the next several months to show they have settled their debts. This is a Read More
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