In the year 2020, 544,463 people filed bankruptcy in the United States. That number may seem enormous, but in reality, Bankruptcy filings in 2020 were the lowest they have been in thirty-five years. This may seem counterintuitive for the type of year 2020 was, but it makes sense when you think more about the government assistance that a lot of people received last year.
Most people do not realize that there are actually five different types of bankruptcy. Most of time when someone hears the word “bankruptcy” they assume you are talking about Chapter 7 bankruptcy the one where you eliminate your debts and possible lose all your assets. The majority of bankruptcy cases filed are this kind of… Continue reading The bankruptcy where you pay back