Category Archives: Bankruptcy
Think Twice Before Assuming Someone Else’s Mortgage
Journalists have been saying for at least a year that the only way you can afford to be a first-time homebuyer is if your parents give you money for a down payment, co-sign with you on the mortgage loan, or both. Where does that leave the rest of us who do not have wealthy… Read More »
How Do the Holidays Affect Your Bankruptcy Plans?
It is no fun to listen to teens yap about how their stress will skyrocket to unbearable levels if you take away their devices even for a short time, but the fact that people are more open about their emotions now than they were a generation ago takes away one of the many stressors… Read More »
Credit Card Debt After Retirement
The list of outdated personal finance axioms keeps growing. For example, by now everyone knows that going without your morning coffee shop run will not make much of a dent in your debts, and when was the last time you saw someone who could afford to pay their credit card down to zero every… Read More »
3 Exit Ramps From the Road to Bankruptcy
Filing for bankruptcy protection can bring fast and significant relief from unaffordable debts, and everyone has the right to file for bankruptcy, but if it were as easy as it sounds, then everyone would do it. Even though the bankruptcy court accepts almost all filings and eventually discharges the applicants’ eligible debts, filing for… Read More »
Retirement Accounts and Your Bankruptcy Case
In one of life’s many injustices, you can be too poor to file for bankruptcy, but you cannot be too rich. Even though Tax Day is still nearly half a year away, numerous people are anticipating the arrival of their income tax refunds so they can spend them on a chapter 7 or chapter… Read More »
Inside the Underwater Car Loan Epidemic
This month, the CNBC website published more bad news about American consumers and their car loans. We already knew that vehicle prices are beyond almost everyone’s budgets, but good luck getting to work in Florida without a car. Likewise, we already knew that, even when we work around the clock, and our job and… Read More »
The Ugly Truth About Filing for Bankruptcy Before Age 30
By now you have heard all the gloom and doom about how the current generation of young adults have had debt hanging over their heads since the minute they entered the workforce, if not earlier, and it will continue to follow them around for the rest of their lives, even if they live to… Read More »
Unpleasant Truths About Bankruptcy and Taxes
When you decide to file for bankruptcy, you can feel the emotional burden being lifted off of you even before the court discharges a penny of debt and even before you are sure of where you can get the money to pay for the bankruptcy filing. Bankruptcy will not solve all of your financial… Read More »
Can Debt Relief Make Your Retirement Plans a Reality?
For as long as you can remember, your future plans have not extended beyond the next payday. You spend every pay period scrambling to make the next installment payment on your debts. If you are among the lucky few, you signed up years ago to have your employer deposit a small portion of each… Read More »
Can You Discharge Student Loans in Bankruptcy?
The good news is that everyone has the right to discharge unpayable debts in bankruptcy, but the bad news is that not all debts are eligible for discharge. In general, it is easy to discharge debts that you owe to private lenders, such as credit card companies and hospitals, but if the creditor is… Read More »