When you are deep in debt and you need a way out, you should explore your options as soon as possible. One of these options may be filing for bankruptcy. However, most people find the thought of declaring bankruptcy quite intimidating. Knowing the right time to...
Year: 2022
How many times can you file for bankruptcy?
There are many ways people build up debt: car loans, student loans, credit card purchases, unexpected expenses, medical bills, etc. When people put on more debt than they can afford, often people look for alternative means to pay it off. People have many options when...
Cash advances could lead to debt issues and bankruptcy
If you get a cash advance from one of your credit cards, you need to understand how that advance may impact your interest rates and begin to greatly increase your monthly payments. Cash advances let you take money from your credit card balance and use it as cash. They...
Do you need to consider your spending prior to bankruptcy?
Your thinking about filing for bankruptcy. You know that you're still going to have some bills to pay and some spending that you have to do. This is likely going to add charges to your credit cards or other lines of credit in the weeks or months to come. What you're...
What happens to your credit cards when you file for bankruptcy?
Revolving credit is a financial necessity for many modern households. Whether you are a young professional establishing yourself in your career or a parent with a couple of children, you never know when there will be unexpected expenses that exceed how much money you...
Chapter 7 or Chapter 13 bankruptcy: Which one is best for you?
Filing for bankruptcy is one of the best ways of finding debt relief. However, choosing between the two most common types of bankruptcy may not be easy. Given how that your decision is likely to affect your life, it is crucial to know how both types of bankruptcy...
After bankruptcy, how do you rebuild your credit score?
Your credit score is important because it helps you access loans and lines of credit. If you apply for a credit card or a home mortgage, for instance, the lender is going to look at your credit score to determine whether or not you are a risk and if they're going to...
Even stubborn lenders may compromise during Chapter 13 bankruptcy
Companies that lend money like to make as much as possible off of each loan or transaction. It is common for credit card companies to base their operations out of specific states so they can charge the highest interest rates possible, for example. Lenders often impose...
The link between bankruptcy and medical debt
Even what seems like a minor injury can send a family’s finances into a tailspin. From a broken bone to a sports-related concussion, medical bills can quickly spiral out of control leaving people facing mounting debt and financial peril. Fortunately, the Bankruptcy...
2 ways college graduates can lighten their debt
Most students are bombarded with advertisements for free credit cards as soon as they enter college. These credit cards make life easier when classes and studying make it harder to work. A lot of your expenses (food, clothes, books and gas) may have been charged to...