“What type of debt can bankruptcy eliminate? Student loan debt? Medical bills? Personal loans? Credit card debt?” The type of debt that can be erased or discharged depends on a few factors, but mostly it depends on which bankruptcy you file. For consumers, the two most common bankruptcies that are...
Let’s say you’re expecting an inheritance in the near future; however, you’re in a tight spot right now. Expecting an inheritance is great and you’re very fortunate to have someone special bestow some, if not all of their assets to you upon their death, but that expected inheritance can’t help you...
We meet with a lot of people who think bankruptcy is their best option and rightfully so, but bankruptcy is not for all debtors in all situations. Truthfully, with the majority of people we meet, bankruptcy is not only their best option, but it’s something they should have done much sooner. In...
In the world of entrepreneurship, it’s no secret that it can be hard for small businesses to survive. All too often, small business owners, especially new ones, take on too much debt in hopes of making enough profits to repay the debt, but much to their dismay, things don’t turn out that way....
As of this writing, the interest rates for credit cards are between 17 and 17.26%. With rates that high, the balances on a debtor’s credit cards can quickly snowball if the debtor maxes out his or her cards. If the debtor can only afford to pay their minimum payments each month, they can end up...
When consumers get their first credit card or auto loan, they may be excited to enter the world of consumer finance, but they often fail to realize how debt can become a burden, a ball and chain, something that feels a lot like a heavy weight on their shoulders. Debt can be fine as long as it’s...
Twenty years ago, and earlier, debt collector harassment was way out of control.Thousands of victims (debtors who were delinquent on their debts) were subjected to various forms of stressful, upsetting, and horrible treatment on behalf of debt collectors trying to harass them into resolving their...
Generally, individuals file either a Chapter 7 or a Chapter 13 bankruptcy. But, for the purposes of this post, we’re going to discuss the advantages of a Chapter 13 bankruptcy. The U.S. Bankruptcy Courts refer to Chapter 13 as the “wage earner’s plan.” In other words, it’s the chapter that people...
