Bankruptcy

What are some potential causes of bankruptcy?

There are many potential causes of bankruptcy. Some common ones include: 1.            Medical expenses: Unexpected medical bills can be a major contributor to bankruptcy, particularly for those who do not have good health insurance.  All it takes is one medical emergency and that could cost upwards of 6 figures. 2.            Job loss: Losing a job …

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pros and cons of filing bankruptcy advantages and disadvantages chapter 7

What are some potential positive outcomes of filing for bankruptcy?

Many debtors are surprised when they learn it is possible to actually have a higher credit score within one year after the completion of a Chapter 7 bankruptcy (than if they had not filed). Although bankruptcy case be perceived to be a negative reflection on your credit, it is not the only factor creditors use …

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