Credit cards, when used properly can be great. You can earn points, use them as an advance and most importantly, you can improve your credit. Unfortunately, many people misuse credit cards and end up setting up a meeting with me to discuss bankruptcy.
Would you be surprised if I told you that the fastest growing demographic group of bankruptcy filers is those over 65? It’s sad, but true.
There are a variety of reasons why consumers get into financial trouble, none of which will exclude them from filing a bankruptcy and subsequently obtaining a discharge. So, if you’re in debt because of gambling, you are still able to file bankruptcy.
People have many concerns when they come into my office, but a few concerns seem to come up more often than not. One concern that is in the forefront of many minds is the fear of losing their home if they file bankruptcy.
If you file for bankruptcy your ex-spouse may be affected if you have a joint mortgage. Your bankruptcy will remove you from your responsibility to pay that debt, however, it does not: