Credit cards are beneficial in several ways. They make online shopping easier, for instance, which is important in the modern world. They also may offer rewards, such as airline miles or cash back, that you may want to take advantage of. Plus, credit cards give you...
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Bankruptcy
What makes property nonexempt under Chapter 7 bankruptcy?
Chapter 7 bankruptcy can be a straightforward process, but it might become more complex based on the circumstances. Ideally, a debtor can quickly determine what properties have exemptions, potentially allowing them to keep some of their belongings. However, specific...
What exemptions can you claim in an Alabama bankruptcy?
When financial burdens become overwhelming and you can’t find a way out, the prospect of bankruptcy can be appealing. The process can help you shed debt and claim a fresh financial start in your time of need, serving as a financial lifeline when things look bleak. But...
How long can lenders see a bankruptcy on someone’s credit report?
There are both benefits and drawbacks to filing for personal bankruptcy. The largest benefits include the automatic stay that puts an end to aggressive collection activity and the discharge of someone's debts after the completion of the bankruptcy process. The...
The little things that lead to bankruptcy
Life these days can be very rough. Many people find that spending money on clothes, eating out frequently or finding new hobbies helps them cope with stress. It is important to prioritize self-care, but you should still be mindful of your spending habits to avoid...
Is credit card debt secured or unsecured?
When taking out some form of loan or line of credit, it will generally either be considered unsecured or secured debt. The difference between the two comes down to a simple thing: security. When signing up to a secured lending agreement you’re usually required to have...
Should you file for bankruptcy before you miss any payments?
Sometimes, life presents hardships without any warning. Other times, you may be lucky enough to know when trouble is coming your way. For example, if your boss notifies you of an impending lay-off or termination, you may immediately know you’re in trouble. Many...
Can debt be discharged in Chapter 13 bankruptcy?
When it comes to dealing with overwhelming debt, individuals often turn to bankruptcy as a viable solution. Chapter 13 bankruptcy provides a structured repayment plan to help debtors regain control of their finances. It allows people to keep their assets while working...
What if you make too much for Chapter 7?
You want to file for Chapter 7 bankruptcy. You know that you cannot afford the debt that you currently have on the income that you’re making. You need to clear up some of that debt and give yourself a fresh financial start. If you don’t, you worry that the debt is...
Debunking bankruptcy myths
Bankruptcy myths are fairly prevalent. There is a lot of misinformation out there. Oftentimes, people repeat myths that they have heard from someone else without checking to see if what they’re saying is factual. Once people hear these myths enough times, they start...