Countless Americans live their lives on the edge of financial peril. One significant life event can spell disaster. Facing divorce, job loss, home repairs or medical emergencies can negatively impact household finances for years to come. Many hardworking individuals...
Bankruptcy
Debunking 5 bankruptcy myths
Filing for bankruptcy isn’t a pleasant experience for anyone, but it’s also not the end of the world. The majority of people who face overwhelming debt get into financial trouble through no fault of their own, and massive medical bills are a common reason. Creditors...
Are more foreclosures on the horizon?
The recent climate is extremely stressful for most Americans for several reasons; many citizens do not help a job, remain locked in their homes and struggle with the costs of living with limited or no income. It puts most families in a dark position where they have to...
Four biggest causes for extreme debt
Most people are afraid of debt, especially as they get older. The idea of carrying debt under your name holds a significant problem as you try to pay your bills, pay for a home or even retire in the future. However, carrying debt is also very common. Many people have...
A basic breakdown of repossession and how to avoid it
Most people have an extreme perspective of the repossession process. You may imagine people walking into their homes, taking each of their valuable items and loading everything onto a single truck. However, repossession isn't always that dramatic. In many cases,...
What is wage garnishment (and how to stop it)?
It's already stressful to try to reduce debt, pay your bills and handle daily expenses all at the same time. And for some folks, it already feels impossible to do the first two duties. That's why creditors often take advantage of people in these vulnerable financial...
What is means testing?
When an individual needs relief from the burden of debt, they generally have two bankruptcy types available to them: Chapter 7 and Chapter 13. Because Chapter 7 bankruptcies offers debt forgiveness rather than a structured repayment plan, it is usually reserved for...
Tips to manage finances as a small business owner
For many adults, managing personal finances is already a source of stress. You have to balance income, expenses, vacations and bills all under one single budget. However, it's more complicated if you are an entrepreneur. As a business owner, you have to deal with your...
How to negotiate with creditors
Due to the recent economy and unemployment rate, any adults are relying more on credit cards and loans to make ends meet. They may be putting more money into the credit card bills than they can pay by the end of the month. It might lead to an intimidating conversation...
Which chapter of bankruptcy should I select?
You may be on track for filing for bankruptcy. You know you are ready for a new start and to repay your debts, but you may not know what chapter to select during the process. It's critical to choose the correct chapter in order to reap the most benefits for your...
