Chapter 7

Among the relief that filing for bankruptcy brings is what’s called an “automatic stay” on collection efforts by creditors. As one attorney says, “One of the reasons individuals ultimately file for bankruptcy is just to stop the harassment that goes…

Many college graduates — from young adults to those looking toward retirement — feel like they’ll never escape their student loan debt. According to Student Loan Hero, Americans have a cumulative total of over $1.5 trillion. The website says that…

You might assume that younger people would use credit cards more often than older ones do. The convenience of buying now and paying later is still relatively new to them. They also haven’t had years of paying interest on unpaid…

Economic experts are warning that another recession appears to be headed our way. In a recent survey by the National Association for Business Economics, 38% of economists who were polled predicted that it would occur next year. A little over…

The number of personal as well as business bankruptcies in the U.S. has been increasing recently. There were 5% more filings in July of this year than in June. There were about 1,000 more consumer bankruptcies during the first seven…

On July 25, the U.S. Consumer Financial Protection Bureau (CFPB) and the New York Attorney General (AG) announced that they had fined three New York-based debt collection companies and their owners over $60 million for illegally inflating consumer debts and…

Maybe you’ve been trying to ignore calls, letters, emails and texts from collection agencies. Then you get hit with a lawsuit or debt claim by one of them. You may be tempted to ignore that, too. That would be a…

Younger and older credit card holders are increasingly falling behind on their payments, according to the Federal Reserve Bank of New York. While credit card delinquencies are lower overall than they have been in the past, they’ve been rising during…

A new report recently published by MarketWatch shows that the number of bankruptcy filings has significantly declined in the past 10 years. In fact, they’ve reached the lowest rate that they’ve been since the Great Recession back in 2008. U.S.…

The financial institution LendEDU published a report earlier this month that sheds additional light on what may be motivating many individuals to file for Chapter 7 bankruptcy nowadays. They found that student loans may be one such factor. Data published…