Even if you received a pay raise in the last few months, you may be struggling to pay for the items you use every day. This is unsurprising, as the price of many consumer goods has increased by more than 8% in the last year, according to the U.S. Bureau of Labor...
Has Debt Taken
Over Your Life?
Bankruptcy
What is the main reason most people file for bankruptcy?
Despite the stigma surrounding bankruptcy, most people do not file because of financial irresponsibility. Usually, the reason relates to circumstances outside their control. For example, according to CNBC, a 2019 study found that medical issues were a factor in about...
Can you avoid creditor harassment with bankruptcy?
Dealing with debt is already a big enough stressor on its own. When you compound that with harassment from creditors, it can start to feel overwhelmingly hard to deal with. Fortunately, laws protect you from certain creditor actions. In fact, debt collectors may...
What happens if you default on your student loans?
Many people who attend college or university in Kentucky take out student loans to help pay for their education. These loans are often regarded as safer than other types of loans, as they have relatively low interest rates and generous terms of repayment. However, it...
What should you know about bankruptcy and your credit?
If struggling with overwhelming debt, you have likely considered all the options available to you for regaining control of your finances, including filing for bankruptcy. Like many, you may shy away from this step for fear it will forever ruin your credit....
3 tips for coping with the stress of bankruptcy
Divorce, job loss, a chronic illness or another unexpected life situation can make it harder for you to stay on top of your finances. Because of this, you may find yourself dealing with significant debt and considering the bankruptcy process. Many people file for...
Chapter 13 bankruptcy – the repayment plan
Chapter 13 bankruptcy requires people to complete a repayment plan. Although earning a regular income, some may find themselves struggling with debt. To regain control of their finances, those in such circumstances often consider options such as filing for Chapter 13...
The No Surprises Act and unpaid medical balances
On January 1, 2022, the No Surprises Act went into effect. The Centers for Medicare and Medicaid Services notes that health insurance carriers may no longer send “surprise” bills. As reported by CNN, the Act could cut approximately 10 million surprise statements sent...
Common reasons people land in debt
You may find yourself weeding through collection letters and phone calls, wondering how you got here. However, some common scenarios may often lead to crushing debt. Bankruptcy is one option you may want to consider to get yourself back on a steady financial path....
What role does home equity play in bankruptcy?
Job loss, underemployment, medical bills and significant debt are among the reasons that many Kentucky residents consider bankruptcy. However, you may worry about losing your home if you file. The amount of equity you have in your home might determine the amount of...
