One of the most pervasive myths about bankruptcy is the incorrect belief that the courts will demand that you liquidate your assets, up to and including your home. The truth is far more complicated, and a variety of factors will impact whether you need to liquidate anything at all.
Credit cards are helpful in emergencies. Unfortunately, however, relying on credit cards can have negative long-term effects. Credit card debt may accumulate slowly over time. A serious illness, divorce, job loss or other issue can make it impossible to pay your credit card balances.
The negative connotation of personal bankruptcy keeps people from using it when it may, in fact, be the best financial option. There are many benefits to a personal bankruptcy, especially if you have a family to consider.
An increasing number of America's college graduates are leaving school carrying excessive student loan debt. The growing problem has caught the attention of elected officials and others seeking to find a resolution.