Is Alimony Or Child Support Considered Income In Bankruptcy?
The debt that many people carry is the highest that it has been for many decades. This could be due to a number of different factors but probably can be blamed on the high rate of unemployment, crash of the housing and stock markets, rise in number of divorces, and even rising costs of medical […]
The Difference between Secured and Unsecured Debt
If you’re considering filing for bankruptcy it is essential to know the difference between secured debt and unsecured debt. The most basic difference is that secured debt can be taken away from the debtor and unsecured cannot. Secured debt involves a tangible property which helps safeguard the creditor, since they can repossess the property in […]
Liability of Cosigning on a Loan
Agreeing to co-sign on a loan can be a great way to help a friend, sibling or child establish their own credit or receive a better interest rate. The problem with co-signing on a loan is that if the primary borrower begins missing payments, the liability will fall on you. Before you agree to cosign […]
Divorce and Bankruptcy
Divorce and bankruptcy can each create a difficult time in a person’s life. Unfortunately for some couples, financial problems are what lead them to divorce. While an impending bankruptcy and divorce can seem very overwhelming, there are a few things to know to help ease the process. First you will want to decide which comes […]
Learning to Budget your Expenses
With the economy in decline many Americans have found themselves discouraged with their finances. Slipping into debt can be stressful, but you can turn your situation around. Learning how to budget effectively can help you take control of your financial future. Most people fall into debt because they live “beyond their means”, basically spending money […]
I’m a Renter. Will Bankruptcy Cause Me to Be Evicted?
The job market is very volatile right now, with the unemployment rate as high as it has been in a long time. That combined with the crash of the housing market has made it very difficult for many families to afford their mortgages as they owe much more on their home than it is actually […]
You Don’t Have To Lose Everything When Filing For Bankruptcy
The burning question when families or individuals have to file for bankruptcy is, do I lose everything? The answer to that question is no. Most importantly what do you get to keep when you file for bankruptcy and what is protected. When filing for Chapter 7 Bankruptcy a liquidation process takes place to help repay […]
The Emotional Effects of Declaring Bankruptcy
Filing for bankruptcy can be a shameful and disheartening process for most people. People typically associate their wealth with their personal and professional achievements. The path to professional achievement can be very spiritual and some people feel a deep connection to their net worth. With others, money is not just a personal asset, but it […]