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bankruptcy Archives

Bankruptcy often affects the sick in the United States

Each year, medical costs and unpaid bills leave millions of Americans, including many from the Akron, Ohio, area, in debt. As we all know, the high costs of medical treatment can add up quickly, especially for people who are uninsured or without healthcare. These rising costs can even force many Americans into bankruptcy.

The differences between Chapter 7 and Chapter 13 bankruptcy

There are thousands of Americans throughout the country who are under financial distress. Regardless of how they got stuck in their financial woes, their challenges are real. Every phone call or envelope in the mail could be yet another bill collector. It can get overwhelming.

3 tips for dealing with negative emotions during bankruptcy

Sometimes filing for bankruptcy is your best option for getting out of financial difficulties and starting fresh. While it may eventually lead to better days, going through bankruptcy can have a serious impact on your emotions. You are dealing with burdensome debt and just trying to survive. It is normal to feel anger, grief and stress.

Identity theft is prevalent and causes financial hardship

Life has become much more convenient for many people in Ohio as people are able to do more and more on the internet. It is also much more convenient for people to make most purchases using their debit and credit cards, as opposed to writing checks or using cash. While life may have become more convenient using these modern shopping and banking methods, it has made people's private information more accessible to hackers.

Common reasons that people are forced to file bankruptcy

People in Ohio have a wide variety of income sources. They also have different income levels. The amount of one's income generally dictate the lifestyle they are able to live. Over time, one becomes used to that lifestyle, whether it is a lavish lifestyle or a frugal one. However, one thing remains the same: a sudden change in one's life can make it difficult to continue meeting the costs for their lifestyle.

Many people lose money to phone scams each year

People use phones every day in Ohio. It is the primary way people communicate with friends, family, clients and companies that do work for the person and for many other reasons. Usually, when they make a call or receive one, they assume that the person on the other end of the call is the person they say they are, or from the company. But, this is not always the case.

Actions to avoid prior to filing for bankruptcy

Most people who find themselves in debt in Ohio did not intend to get a place where they may not be able to pay the debt back. However, unexpected situations arise during life and can be costly. As the debt increases, people may intend to pay the debt back, but at some point, the person may realize that this not a possibility. Now, the person may seriously begin looking into bankruptcy as an option.

Debt collectors may not come after debts discharged in bankruptcy

If you have ever experienced harassment at the hands of a debt collector, you probably understand how invasive and intimidating some of the tactics they may use to try to force repayments from you can be. You may have decided to file for bankruptcy as a method of putting an end to debt collector harassment, but that does not necessarily mean you will not hear from them again.

Ohio family fundraising after child's medical problems

A girl from Ohio recently went to the hospital and diagnosed with strep throat. She took antibiotics, but then came down with the flu and complained about pain in her arms and legs. After going to a couple of hospitals, doctors found she contracted a dangerous infection, most likely stemming from the strep throat. The infection was so bad that the doctors were forced to amputate one of her legs to prevent spread of the infection. The girl remains in the hospital and will require more surgeries.

Property people are able keep after bankruptcy

There are many reasons why people in Ohio end up in debt. It can be because of medical expenses or other unexpected events and costs that arise. Sometimes, these costs then lead to even more debt because people may need to start paying for monthly expenses with credit cards or other loans. Before long, the person or family may be buried in debt and question whether they will ever be able to pay it all off.