debt Tag

Many businesses have been facing considerable challenges in the times of COVID-19. While some have managed to scrape their way through, others are facing a tough time dealing with their situation and have to look at last resort options, such as filing for bankruptcy. (more…)

If you find yourself in a large amount of credit debt, the idea of using a debt settlement company to help you get out of the red may sound like a good idea. They make it seem like they are there for you and will work with you to manage your debt balance. In some cases, using a debt settlement company can be a good option, but make sure to know what you are getting yourself into before you...

The FDCPA has been instrumental in the protection of consumers from predatory debt collection practices.  However, it is over 40 years old and many believe it is time for an update.  There has been a minor change or two in the last 4 decades, but nothing that addresses the newer business practices of debt collectors.  Now, creditors and collectors have the internet which gives them access to...

Married couples often share the same debts, but that is not always the case.  There are bankruptcy filing options for both situations.  One partner may need to wipe out their debts but want to avoid harming the other partner’s credit.  In some states, it can be beneficial to file for bankruptcy jointly.  Before deciding, you should know the pros and cons of each filing option for married...

There is a growing debate over the student loan debt problem in America.  Millions of former students struggle to keep up with their student loan payments which have a carry over effect in areas such as car loan and mortgage payments.  It is widely accepted that student loan debt repayment is as sure as death and taxes, but is that really the case? The Student Loan Debt Problem If you are one...

It is always important to read the “fine” print when agreeing to anything.  This is especially true when signing up for a payday loan.  Interest rates are often 300% – 1000%.  Sometimes referred to as “predatory loans”, payday loans are designed to give the customer money quickly and allow them to pay the loan and interest back over time.  Read on to learn about two truly terrible...

Wanting to give the people you care about a Christmas present is honorable.  The least sexy thing to think about during this season is debt.  However, keeping debt in mind could be essential to ensuring you aren’t paying interest for the next 6 months.  How Much Debt Did U.S. Shoppers Take on in 2018? According to an article on MarketWatch, 44% of U.S. shoppers assumed more than $1,000 in...

Chapter 13 bankruptcy is a form of bankruptcy that requires the debtor to enter into a plan of debt repayment. It is similar to debt consolidation, but has the backing of Court approval, so your lenders do not have a choice about whether to participate in your proposal. When a Chapter 13 case is filed, a repayment plan is proposed and eventually approved by the Court. The debtor then makes a...

Bankruptcy comes in two forms for most debtors, Chapter 7 and Chapter 13. Chapter 7 is the preferred type of case to file because it allows a debtor to get rid of all of their unsecured debt. And, in most cases, it is having too much unsecured debt that puts people in the position to need the relief bankruptcy can provide. But before you decide to file a case and count on being able to file a...

The first step to understanding the benefits of taking certain actions is to understand the action itself. When you are looking for ways to cut down on expenses and get out of debt it is beneficial to have a grasp of how different debt repayment plans can eliminate your debt load. There are several schools of thought on how to get out of debt, from the snowball method to the APR and quick...