Many Americans are afraid of getting sick, especially during the current global crisis. However, a recent study reiterated another fear of most Americans have with the medical care system, its unruly debt. According to Healthcareinsider.com, more than half of the...
Chapter 7 bankruptcy
Dealing with debt during the holiday season
With Thanksgiving and Black Friday right around the corner, many people begin their holiday budgeting early to ensure they have the best gifts at the best prices. Unfortunately, the holiday season is typically a stressor in terms of people's finances. Many Americans...
Am I eligible for the means test?
Most Americans doubt when bankruptcy is the right option for them, and a strong majority of those same Americans aren't sure if they qualify for bankruptcy. Luckily, there is a way to determine eligibility for chapter 7 participants. Since 2005, most individuals have...
Does Chapter 7 bankruptcy mean losing your home?
People who find themselves considering bankruptcy due to financial hardship often worry about the long-term implications of bankruptcy. Misinformation abounds on this topic, and many people are quick to claim that filing bankruptcy means losing your home. While it is...
Determining when bankruptcy is the best option
Most of us feel it’s a moral obligation to pay what we owe – as long as we are able to do so. However, when people reach the point of considering whether to file for bankruptcy, they are usually overwhelmed by debt. Many people will try to chip away at the balance...
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 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...
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...
Simple ways to improve your credit score
Most consumers are aware of the impact of a bad credit score. It becomes a roadblock for receiving loans, applying for apartments or buying a car. Luckily, there are some ways to improve your credit score and ease barriers along the way. Know your score The first step...
Five warning signs of financial struggles
Most people complain about all types of bills. Or they wish they had more income for vacations, clothes or fancy cars. However, there is a significant difference in wanting more money and needing more money. Because complaining about money is so generalized, most...
