Bankruptcy is a tool you can use to get a handle on your debt, which is beneficial when incomes drop, such as during a layoff. However, bankruptcy has long-term consequences that individuals should carefully weigh before they begin. There are two types of bankruptcy,...
Serving Clients In The Hudson Valley & Orange County Since 2003
3 benefits of filing for bankruptcy
Filing for bankruptcy is not an easy decision and it can have lasting effects on your finances and credit. However, the benefits of filing for bankruptcy often outweigh the drawbacks for those who keep accumulating debt without seeing a way to catch up. 1. Stops all...
Who files for bankruptcy?
Although debt can be an isolating experience, it is one that many Americans go through. Every year, thousands of individuals end up filing for either Chapter 7 or Chapter 13 bankruptcies. Because there are still some lingering stigmas surrounding bankruptcy, it can be...