Category: Bankruptcy

People expect payday loan providers and credit card companies to be aggressive or outright abusive when collecting on a debt. These organizations primarily profit off of people’s debts and therefore have very little tolerance for late payments. They have a well-earned reputation for their willingness to take people to court over past-due balances and missed… Continue reading Healthcare providers can be very aggressive when collecting debts

Bankruptcy is not something most people plan or look forward to. Besides potentially injuring your credit score, bankruptcy can remain on your credit history for quite some time – and these can have a range of consequences.  Unfortunately, life is full of uncertainties. And except in extreme cases like a sudden injury, emergency home repair,… Continue reading 3 warning signs bankruptcy might be on the horizon

Inflation is on the rise, wages are stagnant and people are having a hard time making ends meet – and that’s just when you’re considering the regular month’s expenses. Even a small unexpected repair bill or a minor financial emergency can leave many households struggling to cope. When people lack savings, have already maxed out… Continue reading How do payday loans become a debt trap?

Filing for bankruptcy may be the best option for protecting some of your assets, eliminating debt and stopping certain legal actions against you. Thus, if you are in significant amounts of debt that you can’t pay, consider this move. Nonetheless, you need to be prepared to make the right calls. Here is how to do… Continue reading How do you prepare to file for bankruptcy?

Are you on the brink of losing your vehicle because you’ve defaulted on the loan? Filing Chapter 13 bankruptcy may be the saving grace that keeps you behind the wheel.  Keep reading to discover how this powerful financial tool can help you avoid repossession and get back on the road to financial freedom. How does… Continue reading Can Chapter 13 bankruptcy help stop vehicle repossession?

Many people in Alabama struggle to make ends meet. In this situation, a viable option may be to file for bankruptcy. However, you may have many questions about this process. For example, can you keep your credit cards? What happens to your credit cards when you file for bankruptcy? When filing for bankruptcy, you must report… Continue reading Do you get to keep your credit cards when you file for bankruptcy?

Living paycheck to paycheck refers to a situation where you must have that next paycheck in order to pay your bills. As long as all of your income arrives in your bank account every month, you can make ends meet. But there is no extra leftover if there is ever a break or a gap… Continue reading Why it’s difficult to live paycheck to paycheck

There’s no one source of debt that is singlehandedly responsible for the majority of bankruptcy filings every year. Most filings include numerous types of debt. Someone who is filing bankruptcy because of overwhelming credit card debt, for example, may also have outstanding auto loans and student loans. But you can look at the trends to… Continue reading Medical debt contributes to the majority of bankruptcy cases

Used in moderation, credit cards can be a helpful financial tool. They can be utilized to pay bills, buy groceries or finance larger purchases. The downside is that credit cards also have the potential to get you into significant debt. Millions of Americans currently have credit card debt that exceeds $1,000, and this type of… Continue reading What to do when credit card debt becomes overwhelming

If you are dealing with overwhelming debt, and all the other options are off the table, you might consider filing for bankruptcy. Bankruptcy should not be considered a failure in any way — rather, it can provide you with the fresh financial start you need. However, it is not uncommon for the bankruptcy court to… Continue reading Why would the court throw out my bankruptcy claim?