Blog Category: Debt

Anyone that is in debt usually reaches some level of frustration about being in this financial situation. It is unpleasant and not a problem that is easily solved. Some contemplate going bankrupt so they can get a fresh financial start. Others get to the point where they basically adopt the attitude that you can’t get  … Read more

With secured debt it means that you have given the creditor something that they can take if you do not pay your debt. With your house or if you have property then that in itself becomes the collateral. So if you defaulted on the payments they would have the right after following the proper legal  … Read more

When you are ready to file for bankruptcy there will be a qualification process that you will need to go through for either the chapter 7 or chapter 13 bankruptcy offerings.In either case you are medical debts will be addressed. The type of debt that you have, are placed into different categories when you are  … Read more

One of the biggest reasons that most people want to go bankrupt is to get their creditors off their backs, and not because they merely don’t want to pay the debt. Creditors can be ruthless and incessant in their collection attempts. Even when they know the individual owing the money has no options to make  … Read more

Usually when an individual wants to go bankrupt the other positive aspect is that they are able to look forward to a totally fresh financial start. Most people are embarrassed by having to take this type of action, but in many cases the debt is so overwhelming there is just no other solution. Starting New  … Read more

Creditors can be pretty ruthless when it comes to collecting the money that is owed to them. Although they have regulations that they must follow in order to collect, they don’t always stick to the rules. One thing for sure is most of them are insistent on collecting what is owed to them, and they  … Read more

Often individuals believe that insolvency and bankruptcy are one and the same thing. Yet they are different. An individual can be in a situation where they are in cash flow insolvency. This means they are in a situation where they don’t have enough cash to be able to pay their debts on this. Broke vs  … Read more

Within only a few years of leaving home, most teens and young adults deal with large financial decisions, including taking out student loans, signing up for a credit card, buying a car, taking out a mortgage, and more. If you’re like most Americans, you’re familiar with navigating the difficult world of financial stress and debt,  … Read more

Debt consolidation and bankruptcy are two of the most common tools individuals use to get out of unmanageable debt and start redeveloping their finances. While both debt consolidation and bankruptcy can help during financial distress, they serve unique purposes, and it is important to understand the difference to make an informed decision about what works  … Read more

For the last few years, numerous studies have linked the relationship between medical debt and bankruptcy filings. Just a few short years ago, 62% of personal Texas bankruptcy filings were caused by undue hardship brought on by medical bills. Further, 78% of those who filed for a medical debt discharge actually had health insurance. So  … Read more