Last Updated on September 12, 2023 by Lori Pace
Filing for bankruptcy can be a daunting task for anyone, but it may be even worse for a single parent.
Suppose you are a single mom in the U.S who is experiencing financial difficulties. In that case, the government will help you in various ways. We’ll go into the bankruptcy assistance program’s specifics for single moms on this page.
Filing for Bankruptcy as Single Parent
Unemployment Insurance Program
The Unemployment Insurance Program allows single moms to receive cash benefits if they have lost their jobs due to no fault of their own. Call the Department of Labor’s Call Center at 1-877-889-5627 to file an unemployment claim. For more information, go to the website link.
Chapter 7 Bankruptcy
When you’re unable to settle your debt issues, you may want to consider Chapter 7 bankruptcy. This form of bankruptcy is also known as liquidation bankruptcy, but there is no repayment plan. They will sell your properties to help pay off your debts under the Chapter 7 act. You can call America’s Debt Help Organization at 888-505-2105 if you need more information or want to apply for the act. For more information, go to the website link.
Chapter 13 Bankruptcy
Chapter 13 is a bankruptcy scheme offered under federal statute, similar to Chapter 7 bankruptcy, to assist those who cannot repay their debts. Single moms who can demonstrate that they will repay their loans within three to five years are eligible to apply for the program. The Wage Earner’s Package is another name for this. If you’d like more detail about this service or need assistance applying for compensation, contact the Debt Help Agency at 888-505-2105. For more information, go to the website link.
Municipal agencies provide financial Bankruptcy services to support low-income families paying off their medical bills. Single moms who do not have the financial means to cover their medical bills should apply to see whether they qualify for assistance. You can do so by contacting the Clerk’s Office of the Bankruptcy Court in your area. For more information, go to the website link.
Bankruptcy Counseling & Education
GreenPath is a non-profit agency that provides free debt and bankruptcy therapy. They will help you determine whether or not you need to apply for bankruptcy to resolve your debt issues. Single moms who need assistance managing and repaying their debts should call the GreenPath Office at 800-550-1961. For more information, go to the website link.
Consolidating your debts entails combining all of your loans into a single balance to make repayment more manageable. Debt restructuring will also help you lower your interest rates, making it easier to pay off your debt. You’ll be able to choose between a secured and an unsecured loan. Secured loans are secure because of properties such as your home or vehicle. In contrast, unsecured loans are based on your credit history and are not secured by your assets. Call the Lending Tree Customer Service at 800-813-4620 for more information about your options or apply for debt restructuring. For more information, go to the website link.
We hope that this bankruptcy assistance material has shown single moms that there are options for managing and potentially paying off their debt. For more information on how to handle your credit in the future, look at our credit counseling for single moms page.