Category Archives: Bankruptcy
U.S. Consumers Rack Up More Credit Card Debt
Americans continue to pull out their charge card to make all sorts of purchases. As reported by MSN, credit card debt exploded in July 2019, increasing double digits. Total consumer credit is now much higher than it was at the start of the Great Recession. But should consumers be worried? Every person’s case is… Read More »
One Woman’s Experience with Debt Settlement
Business Insider has an eye-opening story from a woman who managed to clear out more than $22,000 in credit card debt using debt settlement but who expresses regret with the process. The woman’s story is well worth hearing, because debt settlement companies aggressively sell their services without mentioning an attractive alternative—bankruptcy. Although debt settlement… Read More »
Have You Found the Right Bankruptcy Attorney?
Some people wrongly believe that filing for bankruptcy is a standardized process. It is not. There are many considerations that go into choosing whether to file and picking the correct Chapter to file under. If a creditor objects, then there can be additional complications. Hiring the right attorney is vital. If you hire the… Read More »
Should You Sign Up for Credit Monitoring Services
Credit card fraud continues to be a problem. A thief could either steal your card or your number and use it to purchase goods and services, ultimately leaving you with the bill. Other thieves will steal your entire identity and open new cards in your name. To protect against fraud, some consumers sign up… Read More »
Top Sources of Financial Stress—And How to Deal with Them
Are you constantly worried about finances? If so, then you are not alone. According to recent studies mentioned at the Motley Fool website, over 20 million Americans are stressed about finances, even with the economy experiencing a record-breaking expansion. Some financial problems can be solved with a little work, though others are insurmountable. If… Read More »
Trump Signs Law Protecting Veterans Disability Payments in Bankruptcy
To qualify for Chapter 7 bankruptcy, a filer cannot have income that is too high. Instead, he or she must pass a means test that looks at how much the filer earns and compares it to the median for his state. As of August 2019, a single filer in Florida, for example, cannot make… Read More »
5 Signs it Is Time to File for Bankruptcy Protection
No one is eager to file for bankruptcy. Many people will do anything to delay the day of reckoning. Some will even sell their possessions, even their car, to put off a bankruptcy filing. However, financial stress takes its toll on people’s lives, leaving many people with sleepless nights and mounting bills. Below, we… Read More »
Real Estate Executive Convicted of Bankruptcy Fraud
Wouldn’t it be great to wipe out all debts and not lose anything in return? If you have few assets and are low income, then this might be the reality. However, higher-income people are likely to lose money in bank accounts or other assets in exchange for having debts elimination. The temptation to hide… Read More »
Should You Get a Credit Card after Bankruptcy?
When you file for bankruptcy, you probably assume that your credit score has been permanently shredded and that you’ll never qualify for a car loan or a credit card again. As many of our clients discover, however, this couldn’t be farther from the truth. Some of them are shocked to find out they have… Read More »
The Connection Between Losing Health Insurance and Bankruptcy
Market Watch has summarized the findings of a new study that analyzed Bureau of Labor Statistics data for over 12,500 people. The researchers found a strong link that should not be surprising to readers of our blog. In particular, they found that losing medical coverage, even briefly, increased the odds of filing for bankruptcy…. Read More »