When you declare bankruptcy, you may be afraid of losing your assets. However, declaring bankruptcy is not supposed to strip you of all your belongings. Instead, it should provide a fresh start from the financial problems you may be facing by discharging most of your...
Chapter 7
Medical debt is the leading cause of bankruptcy
If you live in Arkansas, you may benefit from learning more about how medical debt is the leading cause of bankruptcy. Professionals say this is a uniquely American problem largely caused by a broken health care system. As of April 2021, approximately 21 million...
What assets could creditors take during bankruptcy?
Excessive debt could leave Arkansas residents struggling financially. When the debt far exceeds the ability to repay the obligations, filing for bankruptcy could provide a solution. With bankruptcy, collection actions cease, and a debtor could work on commencing a...
How medical debt is handled in bankruptcy
Bankruptcy provides some debt relief for consumers in Rogers, Arkansas, who see no other option. Stats report two-thirds of bankruptcy cases are filed because of medical debt. However, some consumers may wonder if they could file for just medical debt. Medical debts...
