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Personal Bankruptcy Archives

Love and borrowing: Four tips on borrowing money to family members

Family members love each other and want to support one another through tough times both emotionally and financially. A perilous situation can arise, however, when a family member borrows money to a loved one facing significant debt and, potentially, bankruptcy. If you are seeking money from a family member to stay afloat financially, you know there's reliability in your close personal relationship - but is there a place to draw the line?

Sadly, debt-relief industry is replete with fraudulent actors

In bygone years, you might have been an enigma on your block if you related to your neighbors and acquaintances that someone who made representations to you on the phone or through the mail turned out to be a scam artist intent on somehow defrauding you.

Ohio residents may worry about bankruptcy and credit scores

Many Ohio residents may feel as if bankruptcy may not be right for them because they have heard that filing will negatively affect credit scores. While it is true that bankruptcy will have an effect on such scores, that reason alone may not be worth disregarding this debt relief option. Interested individuals may wish to gain more information on what might happen to credit scores when filing for bankruptcy.

Forbearance could affect bankruptcy filings in Ohio

When considering debt relief options, there may be many aspects of an Ohio resident's financial state to consider. For instance, if an individual has entered into forbearance -- a deferred payment plan -- with a lender, that plan could affect a person's debt management options. If that individual wishes to file for bankruptcy, forbearance could potentially have a considerable impact.

Ohio residents considering bankruptcy are not alone

When Ohio residents are considering filing for bankruptcy, they may feel as if they are alone in their financial struggles. Some may even think that their situation is one to be ashamed of and that the majority of others are able to contend with their finances without accumulating considerable debt. However, there are numerous people who file for bankruptcy every year, and doing so usually helps their circumstances greatly.

Celeb couples are not immune to financial trouble, bankruptcy

Even celebrities are not immune to financial difficulties. As a result, these individuals could easily find themselves seeking help for substantial debt that they have accumulated. Bankruptcy is an option that many individuals opt to utilize in order to get their finances back on track and eliminate or reduce their financial obligations. 

Bankruptcy could lead to less stress in Ohio

When individuals are suffering from considerable debt issues, they may feel as if they are on their own. Because financial complications can lead to various other problems, including emotional challenges, those feelings may become overwhelming as well. Luckily, Ohio residents who are facing such circumstances do have options, and bankruptcy may help them feel as if they are not alone in their struggles. 

Bankruptcy may be in some Ohio residents' best interests

Feeling judged for any action could be a difficult situation for Ohio residents. Such circumstances could be even more damaging if the action could potentially help a person's financial state. Many individuals may know that filing for bankruptcy is frowned upon by some. In reality, though, it could allow struggling parties to reach more stable financial ground. 

Older Ohio residents may find bankruptcy helpful

Ohio residents of any age may begin dreaming of the time they are able to retire. Retirement is often associated with a time of relaxation, but older individuals may feel stressed during their retirement years if their finances become troublesome. Many older individuals face considerable debt, either as they enter retirement or after they have retired. As a result, some parties may wish to consider bankruptcy.

Ohio residents do not have to face bankruptcy alone

Debt issues can be difficult to handle on one's own. Of course, there are paths that Ohio residents can take as individuals, such as working on paying down balances or trying to consolidate debt, but some parties may wish to take bigger steps to handle overwhelming debt. Bankruptcy is one avenue that could assist individuals discharge debt, though it may be a complex process at times.

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