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Bankruptcy Myths

There are a lot of false facts and myths surrounding bankruptcy, which have made it hard for a lot of people to decide their financial future. Sure, filing for bankruptcy isn’t easy, and people will always talk, but sometimes, this is the best option for you to get debt relief. Who doesn’t want relief from some of their debts? I know I do. Filing for Chapter 7 or Chapter 13 bankruptcy isn’t a simple feat, but it is a beneficial one once you are able to jump through all the hoops. In this article, we will discuss and debunk some of the myths surrounding bankruptcy.

Bankruptcy Is Not Always a Bad Thing

Nowadays, there is a stigma attached to filing for bankruptcy as it is seen as a failing, which shouldn’t be so. Contrary to popular opinion, bankruptcy doesn’t always have to be a bad thing as it can be a good decision for a number of reasons. It is also important to remember that no two bankruptcy cases are the same and people file for bankruptcy for varying reasons. Some people file for bankruptcy because of unforeseen circumstances like unexpected medical bills or divorce.  In cases like this, it is a good thing as filing for bankruptcy gives you the opportunity to regroup and start over. It is better to file for bankruptcy than to allow collections, foreclosures, and repossessions to push your scores down. In this article, we will be taking a look at some of the reasons why filing for bankruptcy can be a good thing.

Six Great Ways to Save Money on Monthly Expenses

If you are reading this article, you probably just viewed your bank balance and are wondering where all your money went in the past month. You also need a quick solution to your spending habits. It’s not even a problem per se; you just want to be financially accountable. The key to saving money is not to stop spending; rather, it is in spending less and sourcing out worthy alternatives. Recurrent expenses are the little foxes that ruin the vine of savings. Something as insignificant as a dollar every other day will eventually become a gigantic sinkhole on your finances.

How to Improve Your Credit Score Quickly

Having a high credit score is very important in your financial life. The higher your credit score, the better your chances are of qualifying for credit cards or loans with good interest rates. Depending on your credit score, it can either save you a lot of money or cost you a lot of money. However, quite a number of people have poor credit scores because of a missed payment, credit history errors, or others. If you are one of the people with a low credit score, you are not alone.  You must note that improving your credit score takes time, as there’s no instant way to fix a credit score. Quick-fix methods almost always backfire, so it is important that you don’t rush to get one. We will be discussing the different ways you can improve your credit score in this article, so let’s get right to it.

Mallinckrodt Considering Chapter 11 Bankruptcy Because of Opioid Settlement

Mallinckrodt, which is considered one of the biggest generic opioid manufacturers in the US, has tentatively agreed to settle the numerous federal lawsuits against them. This company was sued by the local and state government because of the opioid crisis, and they have tentatively agreed to pay $1.6 billion to settle it. The company stated on Tuesday that the agreement was endorsed by over 40 US territories and states with a large committee of lawyers representing different countries and towns.

Can Debt Collectors Use Social Media to Track You Down?

Did you know that social media platforms like Facebook, Instagram, and Twitter can be used by debt collectors to track you down? Yes, it’s possible. Some even go as far as harassing you and your friends all in the bid to get money – which is illegal. Even though the Fair Debt Collection Practices Act does not forbid debt collectors from using social media, some caveats need to be adhered to.  In the past, conventional debt collecting methods were used, but with the rise in technology, there is no missing the different unique ways to track down debtors. In this article, we will discuss the legality of using social media as a debt collecting tool as well as the different ways one can protect themselves on social media.

Fast Ways of Borrowing Money

There comes a time in one’s life when you need some extra cash to settle some financial problems that you might have. Then the need to borrow money arises, it might be to settle some kind of emergency, buy a car, to get your first home, or even to settle some other high-interest debt. Whatever be the case, it all boils down to you wanting to borrow money. You don’t need to be shy or worried because you are not in this alone.  Borrowing money is part of life, and in most cases, you need to borrow to maintain a healthy financial life. However, there are various ways in which one can borrow money, both the good and the bad. With the increase in people wanting to borrow money, more financial online loaning institutions are springing up, but your ability to choose the best is what matters.

Forced Into Bankruptcy Because of Prescription Costs

About 70% of Americans spend money on prescription drugs because they suffer from one illness or another. Depending on the kind of illness, prescription drugs are inevitable, and what’s worse is that most people can’t do without these drugs. The problem is, the cost of prescription drugs is very high, and many people can’t afford it, and they eventually fall into bankruptcy.  Some Americans spend about 75% of their earnings on prescription drugs, and sometimes even their insurance company can’t cover the entire cost. This issue of bankruptcy is eating deep into society, and the most affected are the retirees, low-income earners, and middle-class citizens.

How to keep online payments safe

With the rise of many fintech companies dominating the payment industry, there are a lot more payment choices available; more than when banks dominated the industry globally. According to a 2019 global payments report by McKinsey, the global payment industry has grown by 6% from 2007 to 2018, and it is predicted to make a total revenue of over $2.5 trillion. The internet is already a scary place to be as there are many risks involved especially with cybercrimes but with the growth of the global payment industry, the cybercrimes risks have increased.

Sears bankruptcy taking down small businesses

According to reports, small businesses have been caught in the crosshairs of Sears Holdings bankruptcy. Sears filed for bankruptcy on October 15th, 2018, after several failed attempts to save the business. Things haven’t been going well on the business front for this company as small business owners are bearing the brunt of this as the Sears Holdings estate it trying to take payments back from these small businesses. This process according to reports, is an attempt to gather funds to close its bankruptcy case. In this article, we will take a look at how the Sears Holding bankruptcy is impacting small businesses.