The process of bankruptcy offers debtors a clean slate when they are overwhelmed by financial burdens. Once a bankruptcy case is completed, however, the debtor will still need basic possessions and assets to move their life forward. Fortunately, the Bankruptcy Code recognizes these basic needs and provides a variety of property exemptions for debtors. If property is exempt, it will not be taken by the trustee and the debtors will be able to keep...more
Bankruptcy is not something to jump into haphazardly. Chances are, if you are considering bankruptcy, you have considered every option possible to dig yourself out of debt. If you are thinking about filing for bankruptcy, you arent alone. Last year 1,074,225 individuals and families filed for bankruptcy in the United States.A common misconception about bankruptcy is that it is a humiliating and miserable experience. However, many who experienced...more
According to a 2008 survey by the American Payroll Association, 71 percent of American workers are living paycheck to paycheck. If you are one of the many who live paycheck to paycheck, or if you have fallen behind, here are some tips that can help you get back on track:Develop a BudgetIt seems like a no-brainer, however developing a budget is fundamental to reaching your financial goals. Many people find themselves in debt not out of blatant mismanagement, but because they lack a plan. By creating a budget that accounts for every spending category and dollar that you spend each month, you can see where your money is actually going. By sticking to the budget, you can regain control and be sure that you financial plans are being fulfilled.Automatic DeductionAutomatic deduction is a helpful way to stick to your budget is by allowing them to be paid directly from a checking account. By setting up automatic deduction, you can be sure that your bills are paid on time and in full.Cut Excess ExpendituresTrips to the coffee shop and vending machines might seem harmless, but the expenditures add up. If you are living paycheck to paycheck, it is important to streamline your budget in any way...more
For the millions of Americans struggling with debt, there are a lot of voices that claim to help. Unfortunately, the variety and differences in the options can be downright disorienting. Here is a quick run-down on the options that you have to achieve debt relief.Debt ConsolidationDebt consolidation simply means taking out a single loan to pay off...more
Debt agreements and re-financing may sound to you like great ways to avoid bankruptcy, and this may well be the case for you. To determine for sure though, you need to consult with a bad credit specialist who will assess your situation and provide you with the guidance you need to own your own home and secure a financially independent future.Debt...more
If your car is taken back by the loan company and the amount that they raise from selling it is less than the value of the loan you will be left with a shortfall debt. This is just like any other personal debt (credit card, personal loan) and the...more
People fear and detest the idea of filing for bankruptcy. This is mainly because bankruptcy leaves a certain stigma for an individual and worse, would result to a financial aftermath, which is a bad credit score. Having an impaired credit score will...more
Bankruptcy Solutions –Legitimate Alternatives For Those In Serious Debt By: Benjamin Axel About the Author www.creditcarddebtsurgeons.com is a matchmaker in the debt settlement industry. They have paired up thousands of...more
What is Bankruptcy?Bankruptcy is when a person or business officially declares the inability to pay back creditors the money that was previously borrowed. This (Bankruptcy) should only be done as a last resort, because bankruptcy will affect every...more
Debt settlement companies are widely available in just about every state however some are just flat out more experienced than others in debt negotiation. That's why it's so important for consumers to use debt relief networks. These networks qualify...more
If the thought of filing for bankruptcy has actually crossed your mind, you may want to give due consideration to some of the debt relief solutions available before you make such a serious financial move. There are many debt relief solutions that you...more