Bankruptcy is definitely a scary word, but I find that most people don’t really know what it is or why it can be necessary. Bankruptcy is a legal process designed clear consumers or businesses of overwhelming debt. When you file bankruptcy, you get automatic protection by the government. This stops creditors in their tracks. A [...]
Tag Archives | Bankruptcy
Bankrupticies Up 34%
Sadly, consumer bankruptcies are at the highest level since October of 2005 according to Consumer bankruptcies jump 34%. Total filings reached 126,434 in July, a 34.3% increase from the same period a year ago and an 8.7% increase over June, according to a report released Tuesday from the the American Bankruptcy Institute. The number of [...]
Take Care to Avoid Bankruptcy
It’s no secret many people have found themselves over extended and are feeling the painful impacts during this recession today. An often discussed alternative to financial struggles is filing bankruptcy. I hear people pondering this approach quite often in financial counseling. I’ll disclaim now that I’m not a legal expert or lawyer, so I don’t plan [...]
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One Money Design is a personal finance blog that exists to help people make progress along their journey to true financial freedom and become more generous with their time and money.
