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...
Bankruptcy
Bankruptcy tip: Divide the process into manageable steps
Once you decide that bankruptcy is your best solution for unmanageable debt, you are part way to becoming debt-free. Now, you need to determine when to file and what to do before filing. Bankruptcy usually works best when planned and prepared for. Breaking the process...
Demystifying bankruptcy: 5 common myths debunked
Bankruptcy laws exist to provide a safety net for individuals facing overwhelming debt. The legal process is intended to offer a fresh start, allowing for the restructuring or discharge of debts to help you regain control of your finances. However, bankruptcy is often...
Proceed with caution: Navigating the holidays before bankruptcy
Money’s beyond “tight,” and you have every reason to believe that you’re going to have to file a bankruptcy petition early in the coming year. In fact, the only reason you haven’t done it already is that you don’t want to deal with the paperwork and stress in the...
When bankruptcy and divorce collide
It’s no secret that unsustainable debt can cause a marriage to crash and burn. The stress and tension of mounting bills and frequent, intrusive calls from creditors can prove to be the straw that breaks the marital camel’s back. Bankruptcy and divorce are two...
The challenges of having a low credit score
Being in debt can have numerous consequences, and a decreased credit score is one of them. While most Americans have a good credit score or higher, there are still millions who have low scores. What are some of the main challenges of having a low credit score? Your...
Unexpected events often lead to bankruptcy
People sometimes believe that bankruptcy stems from intentional actions. And it can. Someone who intentionally overspends on a credit card may find themselves facing overwhelming debt. Someone who takes out a loan that they know they can’t afford may later have to...
Who sells property for asset liquidation during bankruptcy?
Some people call a Chapter 7 bankruptcy a liquidation bankruptcy. The implication is that the courts could force someone to sell off or liquidate their most valuable property to repay their creditors before they receive a discharge of their unsecured debts. Most...
Will Chapter 7 bankruptcy affect your taxes?
Filing for bankruptcy is a difficult financial decision, but it may be the only option for those struggling with overwhelming debts. And while many people know how bankruptcy may impact their credit, not all are aware of how it affects your income tax. Do you need to...
Overwhelming debt can make you sick
If you’ve been living with insurmountable debt, you may have developed all sorts of coping mechanisms without realizing it. You may be looking at only the minimum amount due on your credit cards and ignoring the ever-growing balance. You may throw away or delete...