Credit Card Debt: Consumer, Beware
Credit card debt is like a slippery slope. You may start down that path, thinking you’ll catch up soon. But life happens – injuries, illnesses, lost or downsized jobs. Suddenly, you find yourself slipping farther down the slope. If you are in this position, bankruptcy can be an effective response. It offers a way to […]
Credit Card Debt Collection: Concerns About Flawed Paperwork
The credit card industry does it all it can to get people hooked on unsupportable debt. To be sure, the bad economy is often a factor. You may have lost your job or had your hours cut. There may be other financial pressures, too, such as medical bills. So it can be tempting to begin […]
Families of Elite Olympians Often Have Ordinary Financial Problems
To the television viewer, Olympic athletes seem to be on top of the world. They are young, strong and highly skilled in their sports, with bright futures beckoning. But most athletes come from ordinary families with ordinary financial struggles. For example, the mother of a gold medal-winning gymnast filed for bankruptcy to help keep her […]
Secured vs. Unsecured Debt: What You Should Know
Whether you considering bankruptcy or not, it’s important to know the difference between different types of debt. The kind of debt you have can affect your credit score, how much money you can borrow, and the interest rates of those loans. This post will describe the difference between secured and unsecured debt? Here is what […]
Creating and Keeping an Emergency Fund Can Be Tough
Create an emergency fund. Financial counselors are very clear on this point. They want us all to have at least several hundred dollars socked away to deal with unexpected needs. In fact, many counselors believe the fund should have more than a few hundred dollars. Some say it should be big enough to cover your […]
Chapter 13: A Life Raft In a Sea of Debt
A sad fact of today is that more and more households are experiencing financial troubles. Most of us either personally know someone or have ourselves been affected by the recent economic downturn. With state governments running deeply in the red, resulting in further layoffs, furloughs and potential cuts in assistance, these troubles are likely to […]
Basics of Personal Bankruptcy
According to the National Bankruptcy Center, in 2009 1.41 million Americans filed for personal bankruptcy. Job losses and decreased income nationwide fueled the surge in filings, which showed an increase of over 32% from the year before. With more and more people feeling the weight of debt, many are asking if bankruptcy is an option […]
Chapter 11 versus Chapter 13 Bankruptcy
The financial crisis is taking a toll on many Americans. The unemployment rate is higher than it has been in years and many people are finding themselves upside down on their homes. Owing more on your home than it is currently worth is a very difficult situation, especially if you don’t have a job to […]
Student Loans Non-dischargeable by Bankruptcy
One thing that most students are familiar with is debt. There are very few people that can get through years of higher education without compiling some kind of debt. Schooling is expensive and since it can be difficult to pay for living expenses, tuition, books, and recreation, students may be forced to take out student […]
Child Support Non-Dischargeable by Bankruptcy
Finances are something that every family worries about at some point. With the different monthly bills that families have to pay, it is no wonder that many people struggle to pay the bills. The economy has not made paying those bills any easier. Sadly, a large number of families have now found themselves upside down […]
