Young professionals often find themselves between a rock and a hard place. When they first graduate, they often struggle to find employment. This leads many down a path of debt. Creditors come knocking. Many consider filing bankruptcy for a fresh start. They hesitate in filing for it out of fear for how it may affect their job prospects though.
Even if you have health insurance, a serious illness or an accident that leaves you with injuries can cause your medical bills to pile up – and fast – when you consider deductibles, co-payments and co-insurance. You can't afford to pay those bills, especially if you lost income while dealing with the illness or injury.
The phone rings and the robocaller on the other end tells you just what you want to hear: Your student loans could qualify you for a debt forgiveness program and to take advantage, call this number back right away for the details.
If you think back to when you first purchased your home, you'll probably remember your Ohio title company having you review and sign a variety of documents. The foreclosure process is just as paperwork-heavy as the closing process. It's when you're in your most vulnerable financial state while you're facing foreclosure that you're most apt to be defrauded by others.
Bankruptcy seems like it's a scary experience, but the truth is that it is a fair process that allows you to preserve at least some of your assets, potentially including your home, your vehicle, your retirement accounts and more. The idea behind bankruptcy isn't to take away everything you have.