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Before filing for bankruptcy or after, many consumers are looking for advice on how to handle their personal finances. A bankruptcy can last on your credit report for several years, but it’s worth pursuing bankruptcy protection for those who feel like their debt has gotten out of control but they want to keep their property. For others, maybe you just need a little bit of help learning how to budget better. Whether it’s about rebuilding your credit, opening a new line of credit without digging deeper into debt, or getting a mortgage after bankruptcy, we want to make National Bankruptcy Forum your first stop for personal finance information. Your next step would be consulting with a qualified bankruptcy attorney or a financial advisor. Good luck!

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Should I choose a college based on my parents’ income?

We all know college is expensive. But just how hard is it to pay off student loans? According to new information published by the National Bureau of Economic Research (NBER), choosing the right school to attend can have a huge effect on your future — but not just on what type of job you might…

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Payday lending pitfalls: What to know

With the holidays approaching, people of every income range will be buying gifts for others. For many, this is just an added year-end expense. Others who feel the pressure to give to family and friends but don’t have the money may look for other ways to fund this seasonal expense. The ads for “payday” loans…

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Gift or Loan, and Why Does It Matter for Bankruptcy?

Last updated May 31, 2017. When you’re struggling with debt, it’s natural to turn to friends and family for help. They know you and they trust you, making it simpler and easier to seek financial aid from them than from a bank. If your financial difficulties continue and you decide to file for bankruptcy protection,…

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Make Paying Credit Card Debt a Low Priority in Rough Financial Times

Should I Pay My Credit Card Bills? The economic downturn caused people from all walks of life to turn to their credit cards as a life raft, hoping they could keep bills current with the plastic until a new job came around. Thankfully, sometimes that new job does pop up and the credit card bills…

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Posted by: John O'Connor

What is a judgment? Can bankruptcy help?

A judgment is a legal determination that you owe a debt A judgment is really just a piece of paper signed by a judge that says you owe a debt. For example, in the event you can’t pay a credit card on time, the bank has no immediate recourse. They can call and write, but…

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Make Student Loan Debt Dischargeable in Bankruptcy…Again

Why Not Student Loans? In the famous decision, Local Loan Co. vs. Hunt, the Supreme Court summed up the relatively simple policy behind our bankruptcy laws: the “honest but unfortunate” debtor is given the opportunity to start over, “unhampered by the pressure and discouragement of preexisting debt.” The idea of periodic debt forgiveness is ancient, appearing numerous…

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