If you contemplate filing bankruptcy and owe back taxes to the IRS, you may have heard that Chapter 7 will not discharge tax debt. While generally true, Upsolve.org reports that Chapter 7 can discharge some income tax debts under some circumstances. To make your IRS...

If exorbitant unpaid medical expenses have you seriously considering bankruptcy, you are not alone. CNBC reports that approximately 530,000 American families file bankruptcy every year because of medical debt. The top six reasons people give for filing bankruptcy...

If you are age 65 or older and facing substantial credit card debt issues, you are not alone. The National Consumer Law Center reports that, nationwide, people in this age demographic have approximately four times as much credit card debt as people aged 25 and...

The majority of bankruptcies filed by individuals in the United States are Chapter 7 bankruptcies. A Chapter 7 bankruptcy is a liquidation bankruptcy. This is where the debtor will give up valuable property with the goal of paying off creditors. In order to file for a...

If you are close to retirement but find yourself having to file for bankruptcy, a top concern will naturally be how this will impact your retirement accounts. When filing Chapter 7, the court will look to seize any non-exempt assets so that it can liquidate them and...

Aging often comes with several health, medical and mental issues, but older adults often face financial hardship, too. In recent years, more older adults filed for bankruptcy to cope with their mounting money struggles. MarketWatch explores the reason behind the tide...

Perhaps tax debt contributes to your overwhelming financial pressures, and you wonder whether filing a Chapter 7 bankruptcy can help. The answer is, it depends. Here are some of the factors that affect whether a bankruptcy court will discharge the tax debt. The type...

After filing Chapter 7 Bankruptcy, a person will lose his or her credit cards. While it is possible to rebuild credit following a bankruptcy, Forbes suggests that there are ways to live without a credit card. When you have months to prepare, this is true for the...

If you are in the process of considering bankruptcy, it is likely that you have multiple financial concerns. Many people are aware that filing bankruptcy can lead to asset loss. Thus, one of the most common concerns bankruptcy filers have is if they will be able to...

Medical emergencies are extremely hard to prepare for. When an injury or illness can appear instantly, victims have very little time to build a savings to pay for the debt. When tens of thousands of dollars of medical debt become a significant obstacle for someone,...