All Bankruptcies Are NOT The Same Begin by asking yourself: Am I having trouble paying my living expenses? Am I behind on some or all of my bills? Have I recently lost my job? Do I owe a lot in credit card debt? Do I have a lot of medical bills? Am I in over […]
I believe in complete transparency and want my clients to have control over their financial picture, and to me this includes having realistic expectations when it comes to filing for bankruptcy. While filing for bankruptcy protection will absolutely provide you with immediate relief, you should consider these pros and cons before you make the decision […]
Covering monthly necessities, such as food and shelter, should be the first priority for everyone’s money. Plain and simple. But many times, covering even these most basic needs seems absolutely impossible. Monthly expenses can be enough of a burden by themselves without having the additional strain of additional bills such as mounting credit card debt, […]
One of the most powerful aspects of filing for bankruptcy relief is that it automatically stays, or stops, all debt collection actions immediately. This feature gives you much-needed time and space to get your finances back in order.
Landlords have the possibility of being able to maintain evictions when a tenant has declared bankruptcy and stops paying rent. However, in many cases Chapter 13 bankruptcies can be used to assist a tenant in catching up on back payments and remaining in the leased property.
Usually referred to as “wage earner” bankruptcy, this type of bankruptcy has become very popular over the years because of the way it deals more comprehensively with people’s financial problems. Like all bankruptcies, Chapter 13 cases can get rid of unsecured debt, but what makes Chapter 13 cases unique is that they can also be […]
This is traditionally referred to as “straight liquidation” bankruptcy. This constitutes a complete discharge of your unsecured debt and is most useful if you own a limited amount of assets – and you are primarily only interested in getting rid of unsecured debts (such as credit cards and medical expenses.)
Once you succeed in getting a credit card, you might be hungry to apply for many more cards. Not so fast! Having too much credit may have contributed to your debt problems in the first place. Ideally, you should carry one or two credit cards. Banks want to see that you can handle more than […]
Certainly! Many people are actually able to obtain credit while their bankruptcy is still pending. If you handle new credit wisely, you can begin to improve your credit score almost immediately.
To avoid getting into financial problems in the future, you must understand your flow of income and expenses. Some people call this making a budget. Others find the term budget too restrictive and use the term spending plan. Whatever you call it, spend at least two months writing down every expenditure. At each month’s end, […]