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How Debt Reorganization Can Help You

One option open to many people in debt is Chapter 13 bankruptcy, also known as debt reorganization. Debt reorganization is a tool that allows you to condense some of your payments down into one affordable payment so that you can afford to pay your mortgage and keep your home. When many people think of bankruptcy,… Read More »

Filing for Bankruptcy Again? Rules for Repeat Filing

Sometimes it may be necessary for someone who has already filed bankruptcy to file again later. Life can be unpredictable. Just when you’ve solved some major problems and put your life back on track, the world can hit you with a curveball. Maybe a divorce has left you with no money. Perhaps an illness has… Read More »

How to Stay in Your Own Home with Chapter 13 Bankruptcy

One of the most frightening things that ever comes in the mail is a notice that you are behind on your mortgage payments and your bank is considering foreclosure. If you act quickly, it is likely that you can avoid foreclosure through Chapter 13 bankruptcy. Debt reorganization, officially called Chapter 13 bankruptcy, is a way… Read More »

Is Chapter 13 Bankruptcy the Right Way to Eliminate Credit Card Debt?

Credit card debt has overwhelmed many families in the United States. While credit cards are really only intended to be used in limited situations, they have become a way of life. People use their credit cards for many or all of their purchases, often with no way to pay those debts back. Until recently, credit… Read More »

The Most Common Reasons for Filing Bankruptcy Aren’t What You Think

Many people believe that bankruptcy is only for those who are financially irresponsible. Bankruptcy is wrongfully portrayed by the media as being a get-out-of-jail free card for those who don’t want to work. In truth, bad financial habits are not the most common or even the second-most common reason for filing bankruptcy in the United… Read More »

How to Deal with Medical Debt

According to a study from the American Journal of Medicine, medical bills caused 62 percent of all bankruptcies in 2007. Notably, 80 percent of all people who filed bankruptcy from medical debt that year had health insurance. Clearly, medical debt can be a major problem in America, and it’s often impossible to predict. If you… Read More »

When is the Best Time of Year to File Bankruptcy?

A common question for people in debt is when they should file for Chapter 7 bankruptcy. Often, filing for bankruptcy cannot wait for a specific time of year, as it often comes after a major, surprising life event such as unexpected medical bills. There are, however, a few ways you can time your bankruptcy to… Read More »

Strategies for Avoiding Student Loan Debt

The price of a college education is constantly increasing — and at a much higher rate than the income of the average American. For incoming college students, future debt from loans might seem to be an inevitability. However, there are ways you can avoid at least some of the debt to relieve the financial burden… Read More »

The State of Consumer Debt in the United States

The term “consumer debt” refers to money owed on the purchase of consumable goods. In the United States, the most common form of consumer debt is credit card debt. The following are some statistics illustrating the state of consumer debt in the U.S. as of May 2015: The average credit card debt for all indebted… Read More »

How to Deal with Wage Garnishments and Bank Account Freezes

If you start to fall behind on your debts, there is a chance your creditors could attempt to freeze your bank account or begin garnishing your wages. The garnishment process involves a certain sum of money being automatically withdrawn from your paycheck to be put toward your debt. Nobody wants to have these financial penalties… Read More »