Far too many people in the United States are drowning in debt, and a lot of that is due to student loans with outrageous interest rates. In some cases, people have paid back as much or more than they initially borrowed, without putting a dent in the principal. Prior...
Bankruptcy
Debt relief options if you don’t qualify for bankruptcy
Bankruptcy can be an effective tool if you are overwhelmed by debt. However, you have to qualify. In other words, your petition for bankruptcy could be refused if you do not meet certain criteria. If you cannot discharge your debt via personal bankruptcy, you need to...
Can bankruptcy stop a foreclosure?
If you get a foreclosure notice, you’ll likely begin looking into ways to save your home. Foreclosure isn’t instantaneous, so it’s not as if you have to move out the same day that you receive notice of your lender’s intentions. But you’re still probably going to be...
Can you repay Mom and Dad before you file bankruptcy?
When you first started your financial slide, you had real hope that you could turn things around fairly quickly, and your parents were supportive. They loaned you several thousand dollars, no strings attached, in hopes that you could avoid bankruptcy. It didn’t work...
What is debt collector harassment?
Struggling with considerable debt can be stressful for numerous reasons. One of the most stressful parts about it is being pursued by debt collectors. Collection agencies are entitled to pursue a debt within the confines of the law. Unfortunately, there are occasions...
Are you personally liable for your business’s debt?
If your business has been going through a tough time, you’ll know how quickly the debts can pile up. No matter how hard you try sometimes you simply can’t make ends meet. The problem is, if your business isn’t making any money then chances are neither are you. So what...
How credit card debt can spiral out of control
There are many misconceptions concerning the topic of financial hardship, and one of the most common relates to reckless spending and credit card debt. While it is true that overspending can result in credit card debt, this isn’t always – or even commonly – the reason...
Understanding non-dischargeable debts when filing for bankruptcy
When considering bankruptcy as a potential solution for overwhelming debt in Texas, it is important to understand that not all debts can be discharged. Certain obligations, known as non-dischargeable debts, will remain the debtor’s responsibility even after the...
Can you file for personal bankruptcy more than once?
When people get into bad financial situations and their debts become overwhelming, bankruptcy can offer them a way out and a fresh financial start. What happens, however, if that fresh start turns out to lead right back down a path toward even more crushing debt? This...
Mistakes to avoid before you file for bankruptcy
Bankruptcy is a legally sanctioned process that allows individuals and businesses to restructure or eliminate their debts. However, filing for bankruptcy is often a deeply emotional process and people can sometimes try to avoid it for far too long. If you're in debt...