Credit cards can be a prime reason for an individuals bankruptcy in the first place. Easy credit, combined with what many consider to have been irresponsible lending, culminating in the latest global economic crisis, have been largely responsible for many people spending beyond their means.For the unfortunate ones who have gone through bankruptcy, the idea of a credit card can be repellent, given that this was probably the single most important...more
It is not hard to find life throwing you lemons instead of apples.And it can also happen that the big American dream of owning a house sink into the eternal abyss of endless despair and you may find yourself almost drowned in debt.The threats of Massachusetts Foreclosure may lurk behind and to top it all your monthly income may not be sufficient in paying your bills regardless of the lower sum of the payments!Yes,there is a way and...more
Debt can be extremely helpful. However, like anything, moderation is necessary as too much of it can be a drag. America has found out the hard way that too much debt can suck the life out of your pocketbook, emotions, and well-being. While debt can be debilitating, there is a way out. The federal government set up a plan that enables everyday, hard-working people to get out from under the weight of debt: bankruptcy. For some people, the word itself carries a stigma as heavy as the weight of debt, yet this view is short-sighted. Much of the stigma is myth spewed by debt consolidation, debt settlement and credit counseling companies who make a living off of convincing people that they can get you out of debt without actually discharging any of it. While bankruptcy is not without financial obligations, it is much less so than many of the other solutions people turn to for dealing with debt. So how much does bankruptcy cost and what are your financial obligations if you file? The cost to file is around $200 for a Chapter 7 case and $185 for Chapter 13. This includes case filing fees, administrative fees, and trustee surcharges. In addition to these fees, there are legal fees, which...more
When individuals with financial difficulties begin to research their options, they quickly realize that bankruptcy is one of their best opportunities to get rid of their debt. Some, in an effort to save money or to be self sufficient, might think about representing themselves in a bankruptcy. Who can blame them? After all, hiring a lawyer costs...more
A much wanted discharge of debt that a debtor gets mostly after filing for chapter 7 bankruptcy acts as a great source of relaxation for an indebted borrower. It releases the debtor form personal liabilities for most of the debts and it also prevents the creditors from carrying on any further collection processes against the debtor. A debtor...more
It is a sign of the times that we are living in a time where bankruptcy is at an all-time high in the United States with people being forces out of their homes due to a lack of available work in the world they live in.A little smart budgeting can make a little difference, though. Budgeting lies at the foundation of every financial plan.Don't buy on credit: This may seem basic, but it's a message everyone should take to heart. When you begin to stray from your budget it's usually because of spending too much money somewhere. But if you have a budget that tells you exactly how much you're supposed to spend. Be careful.Whether you use the envelope tactic to avoid overspending, or you just simply set up separate bank accounts, you need to keep your money in order. It might not be as fast, but it helps you visualize just how much money you're actually spending.Resist the urge to shop: If you still want the thing, it will be there when you come back to the store. When you had to rely on keeping cash on hand, the act of spending money meant you had to do a little planning and some simple math.Plan your spending: You need to make a budget and then adhere to it as closely as possible. Build...more
Many people look at their financial situation and how much money they owe different people. Many of those same people don't see the light at the end of the tunnel. If you are one of those people then you might want to think about claiming bankruptcy...more
There were about 1.5 million people who filed for bankruptcy within the United States at the end of 2009. This indicates how easy it is to file for bankruptcy, however, an individual should always refrain from declaring bankruptcy. It might seem like...more
Because of the latest market and financial problems in the Us, a lot of individuals are suffering with unimaginable credit card debt problems. Nevertheless, those suffering don't have to be concerned because you can get debt relief options. A few of...more
It's no secret that there are a lot of different debt relief methods available today , but that very fact alone makes it somewhat difficult to decide which method may or may not be right for you. And finding the right option can mean...more
With recession dominating the economy, there are lots of consumers facing the problem of clearing off their excessive debt and are scared of the fact that they might have to face the bankruptcy. With excessive usage of credit cards,...more
In the current economic client staying on top of bills is very hard for most Americans. People who once had excellent credit now have poor credit ratings due to not being able to pay their bills on time. There are ways to improve your...more