Those That File Bankruptcy Do Better Than Those That Don’t

This report is republished from the Federal Reserve Bank of New York and contains the authors analysis and finding about bankruptcy following the 2005 reform. Personal bankruptcy was introduced in the United States through the Bankruptcy Act of 1978. After passage of the act, bankruptcy rates rose steadily until 2005, when Congress passed the Bankruptcy … Read more

I’m Not Willing to Go Bankrupt Because of the Disadvantages. – Lisa

“Dear Steve, I was divorced last year and now have a $4000 apartment debt that we incured soley on me. I have a repo’d car $20,000 and an accident bills looming over my head($10,000). So I have about $35,000 in debt how do I A: pay it off, and B: Rebuild my credit? Bankruptcy is … Read more