Bankruptcy Blog

Are Payday Loans Paving Your Way to Bankruptcy?

Payday loans might seem like a convenient way to get cash quickly when you are stuck in a bind, but these types of loans can actually put you at great risk. For some payday loan borrowers, these loans are what led them down the path to bankruptcy . What are Payday Loans? Lending establishments that offer payday loans are not affiliated with the big-name banks you might be used to...
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937 Hits

How to Prevent Credit Cards from Driving You into Bankruptcy

Credit cards are one of the primary reasons people travel down the road to bankruptcy . They can be powerful tools to help manage money and enjoy rewards, but they can also be destructive and make it easier to get in much too deep, financially speaking.  If credit cards are causing you serious financial trouble, here’s what you need to know: Budgeting One of the most important things you can...
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912 Hits

How to Protect Yourself from Creditor Harassment

Having past due bills is a common problem for many Americans. Unfortunately for some, unpaid bills are such a problem they receive calls from creditors on a regular basis. Whether you get the occasional call or text about a bill you forgot to pay, or you have mounting debt and an increasing problem dealing with it, there are several things you need to know about what creditors are legally permitted...
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776 Hits

What is a Debtor Education Certificate?

When you file for bankruptcy you will be required to participate in credit counseling just prior to filing, and you will also need to participate in debtor education after you file. Both programs help you learn how to manage your finances and credit better in the future. A debtor education certificate is not necessary prior to filing, but it will be necessary to complete the bankruptcy process. Debtor education programs...
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1065 Hits

How the Fair Debt Collection Practices Act Helps You

Unless you have faced financial problems and dealt with the relentless behavior of creditors and bill collectors, you won’t quite understand the stress and anxiety triggered by the situation. Knowing that every time your phone rings it could be someone demanding money from you – money you do not have – weighs heavily on your well-being and can mean the difference between living happily and facing each day with dread....
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  1059 Hits
1059 Hits

Can an Installment Agreement Help You Get Out of Debt?

If you have fallen behind on a debt the lender might offer you an installment agreement to encourage you to make payments. This is often the case when a debt is turned over to a collection agency – many debtors receive warning notices from collection agencies that offer installment payments as an option for avoiding legal action. There are also instances in which debtors can propose an installment payment schedule...
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1387 Hits

Starting the Year Strong: Three Things to Do Now if You Want a Brighter Financial Future

It’s that time of year when you can reflect on the 12 months that passed and begin to look forward to the 12 ahead. For many people, reminiscing and planning involves finances – how they are now, how they could be better, and what needs to be done to achieve any goals. If you are hoping to have a brighter financial future in 2016, here are a few things you...
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1358 Hits

Tips for Dealing with Medical Debt

Medical debt is one of the most common reasons people are pushed into financial turmoil. Most medical debt comes unexpectedly and is often much higher than expected - the amount of money associated with medical treatment can be astronomical. The problem is compounded even more when a person is unable to work because of his or her illness – which means doctor’s bills continue to pile up with no earnings...
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1517 Hits

Top Five Reasons People File for Bankruptcy

There are many reasons why people choose to file for bankruptcy , but most fall into one of a few categories. If you are considering filing, it can be comforting to know that others have been in your shoes. If you face any of the following situations and feel backed into a corner financially, you are not alone. Bankruptcy has helped many people with similar circumstances to your own move...
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1791 Hits

What Does It Mean If a Creditor Gets a Judgment Against Me?

If you have not paid a debt it is possible the creditor will file a claim in court and obtain a judgment against you. What does this mean? A judgment is the result of a lawsuit. If a claim is filed against you regarding a debt and you do not file an answer within a certain period of time, a default judgment can be issued. If you do respond to...
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1702 Hits

What Can You Do If a Creditor Refuses a Settlement Offer?

Financial problems are some of the most stressful a person can face. If you find yourself in a tough predicament, it is possible to offer a payoff settlement to creditors. This means you offer to repay less to the lender than the total amount owed on a debt and to make that payment in one lump sum. So for instance, if you owe a creditor $10,000, you can offer to...
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1375 Hits

Top Five Signs It’s Time to Call a Bankruptcy Attorney

Contacting a bankruptcy attorneyContacting a bankruptcy attorney is something the average person tends to put off for as long as possible. Unfortunately, waiting too long can cost you even more. Though you do not want to rush into such an important decision, once you know for sure bankruptcy is a reasonable option, you should act quickly. Waiting allows your financial situation to worsen and in some cases, can cost you...
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1830 Hits

How Can I Improve My Financial Situation?

Not having enough money to pay your bills is usually a symptom of a bigger problem. Unfortunately, it can indicate a serious issue with your financial health. In many cases, something that begins as a minor problem making ends meet can spiral out of control. This is especially true for many lower and middle income families that are living paycheck to paycheck. Pulling a bit from savings here and there...
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1982 Hits

Top Five Mistakes Made Prior to Filing for Bankruptcy

Bankruptcy is a mysterious process to many and in some cases people are embarrassed to admit bankruptcy is their only option. Unfortunately, society has created a bankruptcy stigma and people who choose to file believe they will be viewed as irresponsible or careless, and avoid filing, even if it is in their best interest. As more honest discussion about bankruptcy occurs, attitudes will change. Additionally, because of the current financial...
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2689 Hits

What You Need to Know about Credit Counseling

For many people experiencing financial struggles, bankruptcy is an absolute last resort and they will do whatever it takes to avoid filing. Unfortunately, “whatever it takes” is often far more detrimental than had they chosen bankruptcy. Though bankruptcy does signify a person is experiencing significant financial hardship, it provides an opportunity to put an end to a situation that has spiraled out of control. Bankruptcy gives you a path back...
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1935 Hits

What is the Difference between Unsecured Debt and Secured Debt?

Financial debt occurs when you borrow money to pay for something. There are two types: unsecured and secured. It is the item or items for which the money is borrowed that determine whether it is secured or unsecured debt. For instance, if there is property a creditor can take from you if you fail to pay the debt, it is a secured debt. There must be a tangible item with...
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11141 Hits

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