Blog Category: Debt

Credit card debt can be a huge toll for debtors, often causing considerable stress. But, debt settlement and debt consolidation can sometimes help you find your way out of excessive credit card debt. When these avenues fail, bankruptcy is another solution to your debt. Debt Settlement The negotiation strategy with creditors to settle the credit  … Read more

Many factors contribute to the financial success of a company. Since it’s opening, it faces a lot of bureaucracy with taxes, fees, and other costs related to setting up the business. A newly opened company needs to pay taxes every month, whether it has profited or not in most states. This ends up burdening the  … Read more

Bankruptcy is a viable financial option being used by thousands of people each month who are facing increasing unsecured debt, such as credit card debt, medical bills, or are at risk of losing their car or home. Consider filing for bankruptcy if you are in any of the following desperate conditions: You cannot pay off  … Read more

Consumer debt is on the rise as the credit card debt in the United States increases. Debt settlement agencies continue to grow as people search for financial relief. Many debt settlement agencies are legitimate and could help debtors pay off the debt at a possibly reduced rate. Other agencies may be less helpful, and you  … Read more

In both Chapter 7 and Chapter 13 bankruptcy, you are allowed certain possessions to be exempt from creditors. Each state has its own laws to determine what property is exempt. Exempt property cannot be taken by creditors or your trustee to be sold and that money distributed to your creditors. Federal or State Exemptions If  … Read more

When you file bankruptcy, you may worry about what will happen with your secured assets like your home or your cars. Bankruptcy provides some flexibility in dealing with your secured debt. Liens Sometimes bankruptcy can remove a creditor’s lien, making the debt unsecured and eligible to be eliminated with the rest of your unsecured debt.  … Read more

When you get behind in your debt, by either losing your job, cut back in hours or significant unexpected expenses, you may worry about losing your retirement account to your creditors.  Cashing in Your Account One option you may think of is cashing in your retirement account to catch up on your debt. If you  … Read more

Before you can file for bankruptcy, you must attend a court-approved debt management course. You can attend these online, over the phone, or in person. You will need to file a certificate of completion with your bankruptcy petition. Repayment Plan Not all credit counseling agencies operate the same way. Some debt management programs will be  … Read more

When you are overwhelmed in debt and looking for options for financial relief, some people consider debt consolidation loans. These loans are intended to lump all of your debt into one payment.   Secured Loans Some debt consolidation loans come in the form of using the equity in your home or other assets. Since it is  … Read more

Filing bankruptcy can stop your utilities from being terminated by a process called the automatic stay. When you file your bankruptcy papers with the court, the automatic stay goes into effect. The court will inform your creditors of the bankruptcy, and they are prohibited by law from taking any legal action against you. Your creditors  … Read more