Financial difficulties in a marriage may make you wonder about your options for handling debt independently. If you find yourself in a tough financial situation, filing for bankruptcy might seem like a viable solution. But can you file for bankruptcy separately from...
Bankruptcy
Credit card debt hits $1 trillion, a first in the U.S.
There has been a massive jump in credit card debt over the last three years. In 2021, this debt was right around $750 billion, when looking at the total debt for all Americans. But it skyrocketed and broke the $1 trillion mark in the final quarter of 2023. This was a...
3 tips to get ready when filing for Chapter 7 bankruptcy
Filing for bankruptcy is a debt relief opportunity that requires careful preparation and consideration. A successful Chapter 7 bankruptcy in Massachusetts provides individuals with a fresh start financially. When preparing for Chapter 7 bankruptcy in Massachusetts,...
Rebuilding your credit after bankruptcy
Bankruptcy can be a challenging experience, but it does not have to define your financial future. Rebuilding your credit after bankruptcy requires determination and strategic planning. Understand your credit report U.S. Courts reports that 2023 saw 416,607 individual...
Why bankruptcy is nothing to be ashamed of
Bankruptcy is a legal tool designed to help those who are struggling with debt to achieve a fresh start. It’s a process that allows individuals and businesses to reset their financial standing -- not a label of failure. Understanding why bankruptcy is nothing to be...
What’s the difference between bankruptcy discharge and dismissal?
If you’ve been reading up on bankruptcy as you consider whether this is the best choice for you, you’ve likely come across a lot of new and confusing terms. They may even sound like they mean the same thing when they don’t. Two words used frequently when discussing...
2 common causes of bankruptcy
Bankruptcy is often associated with reckless spending. While this can certainly be a contributing factor, the reality is that it plays no part in most bankruptcy cases. Millions of Americans are currently struggling just to pay their bills, and this is through no...
2 ways Chapter 7 and 13 bankruptcies differ
Realizing that you have more bills than money every month is disheartening. It’s the factor that may make you recognize that you need to do something to reclaim control of your finances. Filing bankruptcy is one option that may help you to enjoy a fresh start. Once...
Can you file for bankruptcy more than once?
Bankruptcy is a process that allows people to resolve debt obligations. People often file for bankruptcy when their debt obligations become too much to handle. This could happen after building up lots of credit card debt, medical debt or late fees. Chapter 7 and...
What Chapter 7 bankruptcy exemptions may Massachusetts allow?
Massachusetts law allows debtors to claim exemptions for some of their assets. You may, for example, claim a homestead exemption to protect your primary residence if you file for Chapter 7 bankruptcy. The Secretary of the Commonwealth of Massachusetts website notes...