Blog Category: Debt

High-interest credit cards can turn manageable expenses into overwhelming debt. What begins as a temporary solution—covering emergencies or making ends meet—can quickly spiral into a financial crisis. One powerful tool designed to give people a fresh start. Stops Collection Calls and Lawsuits As soon as you file for bankruptcy, an automatic stay goes into effect.  … Read more

In today’s financial landscape, credit card debt stands as a formidable challenge for many individuals. The ease of swiping a card coupled with high-interest rates can quickly transform a manageable balance into an overwhelming burden. If you find yourself in a situation where your credit card debt seems insurmountable, bankruptcy might offer a path to  … Read more

Starting and growing a small business can be challenging, especially when it comes to finances. While taking out a loan or using credit might seem like a good idea at first, if you’re not careful, it can lead to serious debt and financial trouble. As a small business owner, it’s important to take steps to  … Read more

Small business owners are the backbone of the American economy. Unfortunately, we have seen many small businesses fail especially during this pandemic era. Many small business owners are facing mounting debt, including unpaid rent, loan payments, and bills. For business owners who are struggling to survive, bankruptcy may be the answer. There are two types  … Read more

A fresh year offers the chance to make constructive adjustments and establish new objectives. For many people, this entails taking action to deal with their debt. There are a number of ways that can help you reach your financial objectives in 2021, regardless of whether you want to pay off debt from the previous year  … Read more

Financial hardship can strike anyone at any time. It’s true. Sometimes life hands us situations through no fault of our that can lead to debt problems and can even result in bankruptcy.   Job Loss One of the most common reasons for financial hardship is job loss. When a breadwinner loses their job, it can  … Read more

Perhaps the worst part of medical debt is the ability to come at any time due to an unexpected illness or accident. Medical debt doesn’t even choose what to prefer. According to the Centers for Disease Control and Prevention, one in four American adults has at least one chronic condition. Chronic diseases require constant and  … Read more

In bankruptcy, a debt discharge is the legal release of a person from most of their debts. A bankruptcy discharge is given to a person who has filed for bankruptcy and been determined to be qualified. A bankruptcy discharge discharges a person from all unsecured debts. Secured obligations, such as mortgages and vehicle loans, are  … Read more

Debt consolidation is the process of combining several high–interest debts into one lower–interest loan. This can provide several benefits, such as reducing your monthly payments, simplifying your monthly payments, and reducing the amount of interest you pay. Debt consolidation is often done through a personal loan or a home equity loan. There are also several  … Read more

Debts are erased in bankruptcy by order of the bankruptcy court. The order of the court is called an order of discharge. The order of discharge wipes out the debtor’s legal obligation to pay the debts. It also wipes out the creditor’s legal right to collect the debt from the debtor, meaning after the case  … Read more