Bankruptcy offers fresh start, even after bad decisions
There are a few main causes of bankruptcy that drive the bulk of bankruptcy cases. We have explored those consistently in this blog for nearly a year. They include medical debt, job loss, and credit card debt, among others. But every person who needs debt relief also has a unique set of challenges. Sometimes, those […]
Trouble with tax debt: can filing bankruptcy help?
Another tax season is upon us. It’s true that the IRS has already said it won’t begin processing returns right away, because of the uncertainties about the fiscal cliff with which the year began. But that is only a momentary delay. We all know taxes are coming; as the saying goes, the only thing that […]
In one portion of Texas, bankruptcy filings are down – but what does that mean?
In at least one part of Texas, bankruptcies fell last year for the third year in a row. But does that mean people are doing better, economically speaking? That might be a question to which facts and figures do not provide an easy answer. In 2012, there were 3,955 consumer bankruptcy filings in the San Antonio-based U.S. Bankruptcy […]
Bankruptcy counseling: why is it required and what does it do?
You may have heard that when the federal bankruptcy law was amended a few years ago, Congress put in a few new hoops to jump through. To a degree, this is true. There is now, for example, a requirement that someone filing for bankruptcy under Chapter 7 or Chapter 13 attend a bankruptcy counseling session. […]
Rebuilding credit after bankruptcy and divorce
Facing both bankruptcy and divorce is a challenging double whammy. But sometimes it’s necessary to dig deep down and keep going, knowing there’s a new life waiting on the other side. It’s certainly not uncommon to have problems with both money and your marriage. After all, money problems are often a major stressor in a […]
Rising Housing Costs Leave Many Texans in Need of Debt Relief
It isn’t only loss of a job or unexpected medical debts that can cause you to get behind on your mortgage payments. The need for debt relief can also be the result of the cumulative effect of wages that just don’t keep with the high cost of housing and other expenses. Home foreclosure in San […]
When Educational Debt Becomes a Burden, Not a Stepping Stone
San Antonio Mayor Julian Castro gives the keynote address at the Democratic National Convention tonight. It is a high honor to be chosen for this assignment. Everyone from the San Antonio area – regardless of political affiliation – will be sharing the spotlight by extension. The major is still only 37. In his three years […]
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 […]