The word bankruptcy often conjures images of people living well beyond their means. People might think of new adults who get credit cards and then max them out by buying luxury items. However, that only accounts for a small portion of annual bankruptcy filings. Most...
What you need to know about Chapter 7 and Chapter 13 bankruptcies
It’s easy to quickly build up debt: Free credit cards can be tempting, divorce can lead to financial difficulties and medical expenses can be unexpected and outrageous. When you have debt that you’re struggling to pay, you have several options to help you manage your...
There are options when dealing with serious medical debt
No one plans on getting a significant illness. Nor do they have many choices when it comes to treating it – there may be a family to support and care for, a life with many goals left to fulfill, and the opportunity for a new lease on life. The treatment was,...
Your options if your credit card company is suing you over a debt
A court summons from your credit card company can be terrifying. Nobody wants to get sued. You may envision yourself sitting in a courtroom while attorneys for the credit card company claim to the jury that you have failed to pay your bills. In reality, few credit...
Three critical benefits for filing Chapter 13
Those exploring the option of filing bankruptcy may worry about the stigma associated with it. Some others may also see it as “giving up,” which is not the case. Still, others may not understand how it works or worry about paying the filing fees. Nevertheless, there...
Money-saving tips for the new normal
The pandemic has impacted our lives in countless ways over the last 18 months. Many dream of how things will return or are returning to normal, but others are committed to finding a new normal. The pandemic-induced shakeup may have led to some slowing down their...
Bankruptcy can avoid lawsuits and wage garnishment
All kinds of people face financial struggles. The reasons can involve poor financial choices, bad investments or matters beyond their control, such as losing a job or medical problems. It can create a snowball effect where the expenses grow to the point where a person...
Why is a debt-to-income ratio important?
People can often foster better financial well-being by paying attention to their debt-to-income ratio. This equation marks how much money comes in versus how much goes out. Regardless of how much they earn, many people find it sometimes difficult to pay bills,...
Is it a wise decision to pay off debt with a tax refund?
Many struggling with high-interest loans like credit cards are contemplating using their tax refund to pay down that debt. Others may want to use it to pay current expenses and bills to avoid paying more debt down the road. The good news is that there is a refund, so...
Signs to consider filing for bankruptcy
When someone is struggling with serious financial problems, bankruptcy might still be one of the last options they ever consider, even when there are many signs that would suggest they should apply for bankruptcy. Thousands of Americans decide to file for bankruptcy...