Credit card debt solutions often do more harm than good
Credit card debt is a major concern for many American households. Especially after the holiday season or major unexpected expenses, even the minimum monthly payment due on a credit card balance may strain a household’s budget. People may see few options for paying down their balances and regaining control over their debt. Unfortunately, there are
Are you eligible to file for Chapter 13 bankruptcy?
When you are in debt that you can no longer pay, filing for bankruptcy may be your best option. You can choose to either file for Chapter 7 or Chapter 13 bankruptcy. The former liquidates assets, while the latter reorganizes debts. Therefore, with Chapter 13 bankruptcy, you can keep some of your assets and develop a
3 signs you might need to file for bankruptcy
Life can be quite unpredictable. And part of this unpredictability may involve going through a rough patch – financially speaking. If you are going through a difficult time, with creditors and collection agencies in hot pursuit, you need to figure out a solution. One of the remedies you can consider when struggling with debt is declaring
Can you file for a chapter 13 bankruptcy after chapter 7?
Filing for a chapter 7 bankruptcy can offer you relief from debt that you’re struggling to repay. It means that certain debts are discharged and you can become debt-free as a result. There may be debts that cannot be discharged under chapter 7 which you need some help with making affordable repayments, or you may
Know the risks and possible drawbacks of a Chapter 13 bankruptcy
If your debts become insurmountable, they will probably impact most (or all) elements of your life. Overwhelming debt has even been linked to physical and psychological problems like high blood pressure and depression. Getting out of debt and back on track is a healthy approach to your situation. Bankruptcy can help, but which type should
2 reasons Chapter 7 bankruptcy is better than a balance transfer
Filing for Chapter 7 bankruptcy is a powerful and immediate solution to debt problems. The same day that you file, you have the protection of an automatic stay. Creditors will no longer be able to call you, and you won’t have to worry about a pending lawsuit brought by a creditor moving forward. If you
Is credit card debt secured or unsecured?
When taking out some form of loan or line of credit, it will generally either be considered unsecured or secured debt. The difference between the two comes down to a simple thing: security. When signing up to a secured lending agreement you’re usually required to have collateral backing it. It can be difficult to understand what types
Chapter 7 vs. Chapter 13: Which should you choose?
There are various forms of bankruptcy available. If you are filing over your personal finances, you have two options: Chapter 7 or Chapter 13. Understanding the differences can help you make the correct choice. Questions to ask The first question to ask is how much you earn? Chapter 7 is only available if you pass
The emotional roller coaster of bankruptcy
The dread of getting the mail, answering the phone or checking your inbox is often overwhelming when you have creditors coming after you. For many people who are in this situation, filing for bankruptcy is one of the options that could help them to find relief from that dread. When you file for bankruptcy, an
Chapter 13 bankruptcy and the holidays: What you need to know
If you’ve made the decision to file for bankruptcy, you probably realize that the sooner you begin the process, the sooner you can be on the road to financial health. However, with the holidays not too far away, you may be concerned that filing now will mean no Christmas gifts for loved ones and friends.