Many people who file for bankruptcy do so – at least in part – because their credit card debt has gotten out of control. It may not be the only debt that they have. They could also be facing things like medical debts, mortgage loans, car loans, student loans and much...
Bankruptcy
Why do most people in the U.S. live paycheck to paycheck?
Does it seem like life has gotten incredibly expensive these days? Are you struggling to balance your income and bills? You’re far from alone. According to the latest data, roughly 59% of consumers in the United States are living paycheck to paycheck – including 42%...
2 causes of financial difficulties post-divorce
While divorce can be an exciting fresh start, it’s also a big change both personally and financially. For some divorcees, these changes can be overwhelming. New financial circumstances and spending habits can be difficult to get used to, and many divorcees end up in...
What happens to a financed vehicle during bankruptcy?
Financing a major purchase can be a realistic solution for modern needs. Most people do not have enough capital set aside in their savings accounts to outright purchase a new vehicle if they get into a crash or their current transportation suddenly stops working....
Debt can get worse, even when making payments
Credit cards often come with a minimum payment. The user is not required to pay off the whole balance every month. The minimum payment tells them the smallest amount that they need to pay to be allowed to keep their account. But some people make the mistake of...
The hidden traps of credit card balance transfers
Bankruptcy is one of the most effective debt resolution tools, but many people treat it as their last option. They may attempt every alternative solution to help them take control of their debts before they seriously consider bankruptcy. A balance transfer is one of...
What effects can bankruptcy have on a foreclosure?
Bankruptcy can significantly impact the foreclosure process on a home, offering homeowners a potential means to delay or even prevent the loss of their property. Understanding how bankruptcy intersects with foreclosure is crucial for homeowners considering this...
How are utility bills affected by bankruptcy?
If your debts have gotten out of hand, filing for bankruptcy may be a fresh start for you. Frequent calls from creditors can make the stress of your existing debt-related challenges worse. Filing for bankruptcy triggers an automatic stay, which immediately halts these...
A range of emotions is common for bankruptcy filers
If you’re struggling with debt, filing for bankruptcy may be a good opportunity to reclaim your future financial stability. However, the entire process can be an emotional rollercoaster, so it’s important to be prepared for that possibility. Individuals going through...
2 tips for staying out of debt
There are no easy answers in terms of staying out of debt. Millions of Americans are currently struggling with the cost of living through no fault of their own. Nonetheless, it certainly cannot hurt to look into different money-saving methods. Outlined below are a...