When homeowners can no longer make mortgage payments, foreclosure is a very real possibility. The entire process can take a bit of time to conclude, which provides the homeowners with many opportunities to catch up on missed payments and retain ownership of the...
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Forever 21 offers harsh lessons to retailers
In its heyday, fashion retailer Forever 21 earned a whopping $4.4 billion and made its founders rich beyond their wildest dreams. However, poor expansion decisions and a declining retail climate have resulted in the store filing for bankruptcy. Business...
What is debt settlement?
Because a lot of myths surround bankruptcy, many people are reluctant to file even when it's in their best interest. While alternative solutions like debt settlement are touted as better than bankruptcy, they actually have quite a few downsides. The Balance...
How can I avoid common foreclosure scams?
People will do just about anything to avoid their home being foreclosed upon. This leaves them vulnerable to common foreclosure scams, which prey upon a person's fervent desire to retain their home. Foreclosure scams come in all shapes and sizes, which makes it...
With Chapter 13 bankruptcy, your assets can be protected
You may not like the idea of going through a Chapter 7 bankruptcy, because it would potentially require you to turn over assets you've accumulated over time. You might not qualify for Chapter 7 based on your income or other circumstances. Instead, you may be hoping...
What are business divestitures?
If there is a certain aspect of a business that isn't performing as well as others, many business owners choose to invest more time and money into it to improve its performance. This isn't always the best strategy, however, as the increased concentration may put...
Tips to avoid foreclosure
Homeownership is part of the American Dream for many New Jersey residents. That dream is often threatened when making mortgage payments is no longer possible. If you are struggling with making the monthly amount, you may believe a short sale or bankruptcy are your...
Fighting the stigma surrounding bankruptcy
There are many reasons why filing for bankruptcy can be a difficult decision to make, whether one is worried about various legal stressors or the different ways in which a bankruptcy filing may affect their lives. However, some people push off the bankruptcy process...
Who can benefit from Chapter 7 bankruptcy?
When it comes to personal financial struggles, everyone is different. This is why there are so many different bankruptcy Chapters. Each bankruptcy Chapter is designed with certain situations and financial scenarios in mind and is tailored to help specific groups of...
Bankruptcy and depression
There are a lot of different factors when it comes to filing for bankruptcy, from the financial benefits of eliminating debt to exploring some of the different types of bankruptcy as well as the benefits of each option. For some people, however, the bankruptcy process...
