Senior Citizens are Increasingly at Risk for Bankruptcy
In the last few years, it seems that in my practice, the number of senior citizens filing bankruptcy has increased dramatically. Senior citizens are one of the more vulnerable populations in our country in terms of health and earnings potential. What is driving this incredible rise in senior citizen bankruptcy, and how can you tell…
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Four Bankruptcy Myths Dispelled
Many people have misconceptions when it comes to bankruptcy. People may fear losing cherished property, being regarded with shame in the eyes of their family or even going to jail. Usually these fears are based on myths — not reality. We’re here today to address the five most commonly held false beliefs about bankruptcy: Myth #1:…
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Bankruptcy and Divorce: Two Things Never Bargained For
You may have heard that the number one thing that causes tension in a marriage is money. Financial tension can put serious strain on a marriage and can often lead to divorce. It should therefore come as no surprise that when many marriages fail, the spouses wind up with financial difficulties, as well. When wanting to…
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Why do people prolong filing for bankruptcy?
You could suffer under a mountain of debt for a decade, two decades or an entire lifetime, all while barely scraping by to make your financial ends meet. Or, you could file bankruptcy and get your debt problems in order relatively quickly. If you are struggling with any of the scenarios I mentioned in my previous post,…
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When should I file bankruptcy?
There are several reasons why you might want to file for bankruptcy immediately. The problem is, many people in these situations still continue to wait a very long time before reaching out to a licensed insolvency trustee. This kind of a delay will only make your debt situation worse. If you’re currently experiencing one of the…
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Can filing bankruptcy eliminate child support payments?
Many people consider filing for bankruptcy when their debts become far greater than what they can afford to pay. Bankruptcy helps you eliminate or pay off past due bills, which allows you to get caught up and start over. One question you may have when considering bankruptcy is if it will get rid of everything you owe,…
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What Not To Do If You’re Thinking of Filing Bankruptcy
People who are considering filing for bankruptcy often think about what they need to do to prepare for their case, such as gathering their bills, collecting paystubs, and consulting a Licensed Insolvency Trustee like Welker & Associates. There are also several things you should definitely not do if you’re thinking about bankruptcy. To ensure your…
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So, what exactly is bankruptcy?
Many people find themselves drowning in debt but the thought of bankruptcy is so scary to them, they are willing to go further and further into debt. To those people I say, bankruptcy isn’t something to be afraid of. In fact, bankruptcy is often times describe by many bankrupts as a way out, or a…
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The “Golden Years” May Not Always Be Golden
Retirement is often described as “the golden years,” the time when our many years of hard work and dedication will allow us to enjoy the rest of our days in relative comfort. However, would you be surprised if I told you that the fastest growing demographic group of bankruptcy filers is those over 65? It’s…
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Divorce is a Common Reason for Bankruptcy
Many people are scared of the word “bankruptcy” but it can actually be something that can change your entire life for the better. There are many different reasons that people choose to file for bankruptcy and it is not something to be ashamed of. However, a very common factor when it comes to bankruptcy is…
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