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Bankruptcy is one of the most painful financial situations you can find yourself in. Check out our collection of articles for our experiences with bankruptcy as well as advice on how to manage or avoid it.


lincoln and his debt

Abraham Lincoln – The Debtor

I love to read biographies of significant people in history. One of my favorite subjects is Abraham Lincoln. In his book about the Great Emancipator, author Thomas Keneally writes how Lincoln was once a great debtor. Most of his indebtedness revolved around purchasing two New Salem (IL) stores with a partner of his, William Berry.

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student loan default

What Happens If I Default on My Student Loans?

The following article was written by Brandon Endsley, a Financial Aid Administrator and Purdue Alumni, who administers the MyMoney website at Purdue University. We asked him if he could address some of the issues surrounding student loan defaults – as they are on the rise. Before I discuss the downsides of student loan default, you probably

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growing up farm taught

5 Things Growing up on a Farm Taught Me About Finances

In my youth, I had the lucky chance to be raised on a farm in Iowa. Growing up I thought a lot differently and hated going out to do chores, shoveling pig manure, or walking beans. At the time it felt pointless, and I felt like free labor to my dad, Grandpa, and uncle. Without

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Dad bankrupt

Watching Your Dad Go Through Bankruptcy

On March 6, 2008, I received a call from my mom and dad that no one wants to receive. Charlie: “Hello” Mom and Dad: “Charlie, it’s mom and dad.” (mom’s got the phone, and I can tell something’s wrong) Charlie: “What’s wrong? What happened? Did Grandpa die?” (more silence on the far end). Mom: (mom

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How to Modify Your Personal Finance Behavior

“But mom…I really need that new toy!” “Dad everyone at school has a new pair of Air Jordans and I won’t be cool unless I have them!” “The next door neighbors just bought a puppy and I want one too!” As a young kid these arec some common statements you will hear your kids or maybe even

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The Bank Can’t Foreclose On You If You Don’t Have Debt

This article became a real life realization to me in 2008 when my Dad announced to our family that the bank was foreclosing on his 10,000 head pig operation and 500 acre farming operation. Like I’ve blogged before, this event had rippling affects on our family. In March, of that year, we all thought it would

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Six Reasons For Financial Accountability

When I was growing up I was directly impacted by a lot of my family members in the choices I made with my finances. In particular, I had one family member that always seemed to struggle with managing their bills and finances. Whenever we came over  to their house, the entire dining room table was

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5 Things to Do Before Filing for Bankruptcy

The decision to file for bankruptcy is a painful one. It is often preceded by months and even years of struggling to pay bills, unpleasant conversations with bill collectors, and being turned down for additional credit.  Some end up in financial distress due to handling credit poorly.  Others end up in financial distress due to

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5 Ways to Save Your Home From Foreclosure

Sean Bryant is the marketing manager for  Inzopa is a private network of homebuyers, owners, mortgage lenders and real estate agents. The mere thought of facing foreclosure on your home can cause a lot of stress and anxiety. The thought of having to leave a home that you have put a lot of money,

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What Happens to My Home or Property in Bankruptcy?

It’s not easy when you’re on the verge of bankruptcy. All manner of things need to be considered – and the status of your home is just one of those things. While bankruptcy is a motion which is meant to allow you to keep as much of your property as you whilst repaying debt, bankruptcy

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