Do credit cards cause bankruptcy or help your credit score?
Public perceptions about credit cards tend to vary pretty widely. Some people claim that they’re dangerous and they cause bankruptcy. Others, though, say that they’re necessary as a great way to improve your credit score. So which one is it? These conflicting views can lead to many mistakes, such as people with low credit refusing
How does an automatic stay work in bankruptcy?
One of the most irritating things when you owe money to a business is getting the calls or letters saying that you need to pay them. Your nonpayment probably isn’t because you don’t want to pay them, but rather because you can’t. When you realize that you just can’t make ends meet and pay your creditors, you
How should you handle a call from a debt collector?
When you’ve got more bills than money, those persistent calls from debt collectors can weigh on your mind. You don’t know whether to send them straight to voicemail or answer them. Both seem equally distressing. How should you handle these calls? You don’t want to make a mistake that will lead to bigger problems. Some
Determining whether you meet the income limit for Chapter 7
Chapter 7 bankruptcy is also referred to as liquidation bankruptcy. As the name implies, it can require that you sell or liquidate some of your property. It’s faster and more aggressive than Chapter 13 bankruptcy. Thankfully, the equity in your home, your vehicles and certain other personal possessions are at least partially exempt from liquidation
Can a credit card company really garnish your paycheck?
There is a popular saying that you can’t squeeze blood from a stone. When it comes to someone struggling with credit card debt, not being able to squeeze blood from a stone essentially refers to the inability of someone with limited income to meet all of their financial obligations each month. If you only have
Can a company you owe block your personal bankruptcy?
When you can no longer pay your debts, bankruptcy offers you a solution to escape those debts. Those you owe money may not be so enthralled with your decision to file. Does that mean you need to worry about a creditor trying to block your bankruptcy filing? Creditors cannot stop you from filing for personal
Can you stop a lender from repossessing the vehicle you drive?
Financing a vehicle can be easier than financing other purchases because the vehicle serves as collateral for the loan. Even if you don’t have much of a down payment, lenders may be willing to work with you because they know they can always take the vehicle back if you stop making payments. Unfortunately, if you
Debunking 4 popular myths about Chapter 7 bankruptcy
If you are drowning in insurmountable debt, it can paralyze you into complete inaction. In other words, you may be so troubled by your circumstances that you end up doing nothing to improve your situation. When you finally decide to get a handle on your debt through a Chapter 7 bankruptcy, you may ask others
What is Chapter 7 bankruptcy, and is it an option for you?
Whether it was a pile of unexpected medical bills or maxed-out credit cards, you somehow got mired in debt. Usually, filing for a Chapter 7 bankruptcy is viewed as a last resort for those struggling with debt, but that doesn’t make it all bad. While it can have some long-lasting effects on your credit score,
I’m facing a lawsuit from a debt collector: What do I do?
Being served with notice of a creditor lawsuit can be a shock. While you were likely aware of your mounting debt and collection attempts, being sued by the debt collector may have been the last thing you expected to happen. What can you do when someone that you owe money to sues you due to