Bankruptcy

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...

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...

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 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...

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...

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...

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...

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...

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...

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...