Articles Tagged with types of bankruptcy

Bankruptcy Lawyer Bryan W. Stone answers the question: “Does my spouse have to file bankruptcy if I do?”

A 2019 study found that divorce or separation is some of the most common reasons for filing for bankruptcy in the United States. Other reasons that drive hundreds of thousands of Americans into bankruptcy each year include unaffordable mortgages or foreclosures, spending beyond one’s means, providing financial help to friends or family members, and student loans.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What are the pros and cons of bankruptcy?”

While the economy has recovered somewhat since the “Great Recession” and housing market crash of 2007, millions of Americans are still struggling to pay the bills. For starters, health care costs have drastically risen in the last decade as prescription medication and premiums seem to double in price every few years; fewer Americans own homes now than they did before the housing crash; and the median net worth of families today is just $97,300, which is 30% less than the average in 2007, which was $140,000, according to Vice News. If you are worried about your gloomy financial state of affairs, you should consider talking to an attorney about your best options for getting out of the hole in which you are currently stuck. Filing for bankruptcy could be the right move, or it could seriously jeopardize your future. A Charlotte bankruptcy attorney will be able to provide you with assistance today.