Personal bankruptcy is a good example of salvation that comes with a price. It can enable you to keep things that you might otherwise lose to foreclosure or repossession, like your home and your car. It can help you to get back on your feet financially by discharging debts. It can bring you peace of mind by stopping creditor lawsuits against you and ending collection agency attempts to relentlessly pursue you.
Ohio homeowners could be overlooking options to stop foreclosure
The term "zombie foreclosure" might conjure up scenes from the movie "Night of the Living Dead," but for the more than 7,000 homeowners who abandoned their homes before their lenders completed the foreclosure process by taking possession, the term could represent a lost opportunity.
Regulations leave payday loans as risky consumer debt options
Living from paycheck to paycheck can leave you confronting an unexpected expense with no way of paying it until your next payday. Payday loans help people to bridge the gap between paychecks with short-term but high-interest loans. Interest rates are usually in the double-digit range, but they can skyrocket when the fees charged by lenders are factored into them.
Increased government scrutiny of car title loans for debt relief
What is a money emergency? It can be a short-term crisis, like not having enough money to pay the electric bill until your next payday over a week from now when the temperature is forecast to be in the single digits for the next five days. Or your child needs unexpected medical treatment for an allergic reaction, and the urgent care center requires upfront payment or insurance coverage, and you do not have either.
How can I keep my home once foreclosure begins?
In an earlier post, we discussed the procedures that take place when your mortgage lender begins the foreclosure process against you. This post will elaborate on ways that you can possibly avoid losing your home in a foreclosure sale.
Can I file for bankruptcy without my spouse?
Everyone understands that facing financial hardship can be extremely difficult, both mentally and emotionally. It is also no secret that financial challenges can place a strain on marriages. The bankruptcy code is a powerful tool that can be successfully used to eliminate debt; stop garnishments, repossessions and foreclosures; and obtain a fresh financial start.
Bankruptcy can be best option even for those who make millions
The term bankruptcy may give some people the image of someone who makes an average income, who has fallen on hard times due to losing a job. But there are many bankruptcies that emanate from financial decisions by people who are worth millions. Many of these stories involve professional athletes.
Medical Bills Still A Leading Cause Of Bankruptcy
A recent study of random bankruptcy filings from 2013 shows that roughly 18% to 23% of all bankruptcy cases have medical debt as a "predominant factor" in them. Here is a link to the study:
