Category Archives: Bankruptcy
Debt Settlement Company Red Flags
Credit repair companies often advertise their services on the radio or television, and what they promise sounds almost too good to be true: for a small fee, they will somehow magically boost your credit score. In reality, these credit repair services are not doing much that you cannot do on your own. Even worse,… Read More »
What Can You Do about Secured Debts?
Bankruptcy does an excellent job of wiping out certain unsecured debts, such as credit card debt, medical debt, and some personal loans. Unfortunately, bankruptcy can’t eliminate a secured loan, such as your home mortgage or a car loan. What options does a debtor have if they are struggling with this type of secured debt?… Read More »
Why Are So Many Nursing Homes Filing for Bankruptcy?
With the U.S. population aging, now seems like the perfect time for a boom in the nursing home and long-term care businesses. Nursing homes are not known for cost-cutting, and with large numbers of Americans needing care, nursing home balance sheets should be flush. In Florida, for example, a single room can cost around… Read More »
Insight on Bankruptcy from a Judge’s Perspective
Bankruptcy judges in the U.S. court system are appointed for 14 years. Most have spent decades working as bankruptcy lawyers before stepping up to the bench, so they have a unique perspective on bankruptcy issues. The recent Tampa Bay Times has an interview with Caryl E. Delano, who is currently serving as the chief… Read More »
What Are Underappreciated Challenges of Reducing Credit Card Debt?
If you’ve ever read an article on reducing your debt, you might have whispered in amazement, “That sounds so easy!” Unfortunately, trying to chip away at credit card debt is more complicated and emotionally charged than most bloggers make it out to be. You might find your enthusiasm flagging and be tempted to start… Read More »
Common Credit Report Errors & Why They Matter
Having a clean credit report is the key to getting a job, renting an apartment, and securing a loan with a reasonable interest rate. Few people are aware of how important their credit report is. Unfortunately, many credit reports have errors on them, which not only pull down your overall credit score but can… Read More »
Secretary DeVos Thinks It’s “Crazy” to Allow Student Loan Cancellation
Betsy DeVos is President Trump’s Secretary of Education, so her opinion carries a lot of weight within the Trump Administration. And no educational issue has garnered more attention over the past few years than the high amount of student loan debt that 44 million Americans are carrying. Some sources calculate the total amount of… Read More »
Does It Matter in What State I File for Bankruptcy?
Bankruptcy is federal law, and you can use it to discharge any debts that you have in the 50 states of the Union. Many people have homes in multiple states and move around, often for work. They call us up to ask whether it really matters in what state they file for bankruptcy. In… Read More »
Coal Companies Filing for Bankruptcy in Record Numbers
When he ran for office, President Trump promised to protect the coal industry, which was crucial to his winning certain states, such as West Virginia. However, in spite of the economic expansion that has no end in sight, many coal companies are feeling financial stress and filing for bankruptcy. Forbes ran an interesting story… Read More »
Questions to Ask a Credit Counselor
Credit counseling is sometimes an effective method of tackling debt, especially for those with relatively smaller debt loads. With this type of counseling, the debtor meets to discuss their current financial situation and develop a budget that will allow them to repay their debts in a sensible manner. As part of a debt management… Read More »