Based on their religious backgrounds and personal philosophies, people have widely varying views on the ethics of debt. Within the context of America's Judeo-Christian foundation, debt itself is not considered immoral or even unethical. However, how someone undertakes and follows through on debt mat
During these rough times in our current economy, more and more Americans are opting to file Chapter 13 bankruptcy. Many people are finding that it is the only way out. A strong desire to be free of piles of bills that there is no money to pay and harassing phone calls from lenders is often the main
Bankruptcy is a haunting experience that you wouldn't want to go through more than once. Unpaid bills for several months and years just kept piling up and your creditors kept hounding you. However, you got through it and survived. After getting back to your feet, repairing credit should be your
Consumers who are drowning in a sea of debt and are seeking assistance will be relieved to know here are several places to turn for help. From do-it-yourself debt reduction to nonprofit debt management services to consolidation loans, there are many options to consider, especially if you are conside
If you have borrowed money through credit cards or personal loans and do not have the ability to pay them back, you may be at the mercy of high interest rates and finance charges that never allow you to be free of the debt. A debt consolidation loan can help you pay off your debts faster by making
Medical Debt and Credit ImpactFirst, the good news: Medical debt may not have much of an effect on credit scores. Because it's often not factored into the utilization ratio that composes a FICO credit score, that number doesn't change. However, this isn't the case if the bill is presented...
The decision to file for bankruptcy protection can be a stressful one. The process is actually painless, but you don't know that from the get go. This leads to sleepless nights as you wonder what ...
After accumulating a large amount of debt, filing for bankruptcy might be the only way that you can get out of it. If you suffer from extenuating circumstances that will not allow you to repay your debt according to the terms of your agreements with creditors, bankruptcy can give you some help in th
Overwhelmed about how to file bankruptcy? If so, you are not alone. The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was enacted by Congress in 2005 to reduce the number of bankruptcies filed by ...
Becoming debt free is the dream of many people who suffer from large amounts of debt on a regular basis. Several legal avenues exist to help eliminate your debt and become debt free. Among them are debt consolidation, debt settlement and the debt snowball.Debt ConsolidationDebt...
Since the financial markets bolted down in 2008, it seems that nothing is really getting much better. Unemployment is staying right around 10% and the funny thing about that is the way it's reported is that it only counts the people that are receiving unemployment benefits. If you consider all
After filing for Chapter 7 bankruptcy many people suddenly find themselves in need of transportation. While it is best to wait as long as possible to obtain new lines of credit, there are some situations where waiting just isn't an option. If you, or someone you know, needs a vehicle after filing fo
Following the last ten years where the government has actively encouraged borrowing, we are facing an insolvency crisis. Many families and individuals have been using their credit cards to pay for day-to-day spending, which has resulted in huge debts.
When you file for bankruptcy, Chapter 7 or Chapter 13, there are some events that will allow you to keep your home. Unfortunately, there are things that will cause you to lose your home as well. Before you file a petition for bankruptcy, make sure you understand all probable outcomes. Get a bankrupt
Filing for bankruptcy is a major financial decision that can affect you for the rest of your life. Individuals commonly file for bankruptcy under Chapter 7 or Chapter 13 of the U.S. Bankruptcy Code. Chapter 13 bankruptcy is used by those with income for a repayment plan who wish to keep their assets
A lien is, in short, a claim by a creditor on the property or assets of a debtor. When an individual files for bankruptcy, some liens that could otherwise be collected upon can become avoidable through details of the Bankruptcy Code.
Bankruptcy provides consumers with a legal way to handle overwhelming debt either by discharging debt so that it never has to be paid back or by reorganizing debt into a more manageable repayment plan. Whether or not you discharge or repay debts depends on the results of the Means Test, which compar
Bankruptcy is used by people in debt who are having trouble dealing with creditors. It allows a debtor to place himself under the legal protection of the courts against a creditor's actions, such as lawsuit or garnishment. Chapter 13 bankruptcy allows the debtor to work out a repayment plan so that
Applying for a mortgage after bankruptcy is something that needs to be done in a timely manner, and will require patience.The majority of mortgage lenders will require you to wait at least 2 years following your bankruptcy discharge date before considering your application.However, you may be able t
Building your credit score takes time. During the building process, avoiding negative reporting is a must. Focusing on maintaining positive relationships with your creditors is your primary goal. As long as your creditors report your payment history to the three major credit bureaus, your score will