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If you have worked hard to get rid of debt, it can be disconcerting to get a debt collection call for an obligation you do not recognize. But scammers often use this tactic because many people have enough debt that it is difficult to keep track of. According to...
People wrongfully assume that financial irresponsibility is the primary reason for bankruptcy filings. The majority of people who file do so not because they mishandled their money, but because they experienced an illness or injury that lead thousands of dollars in...
You can file for bankruptcy if you meet the requirements. Of course, whether you should file for bankruptcy is another matter entirely. To decide whether bankruptcy is right for you — and how exactly you might go about it — there is a mandatory credit counseling step....
Because of the stigma and myths associated with bankruptcy, individuals who may benefit from discharging their debts often avoid it. Misinformation and fear of having made poor budgeting choices may prevent some individuals from seeking much-needed relief. The Federal...
Individuals experiencing financial hardship may mistakenly believe that defaulting on a payday loan results in an arrest or spending time in jail. As reported by USA Today, debt collectors threatening individuals they could face fraud charges may have crossed the line...
Bankruptcy, such as Chapter 7 and Chapter 13, takes between five and seven years to pay off. It is stressful, embarrassing and devastating to your credit rating, but the process can mean a fresh start. The new beginning starts with developing a game plan to guarantee...
Filing for bankruptcy in Kentucky is an opportunity for people to revitalize their finances and get rid of overwhelming debts. Contrary to what many believe, bankruptcy is not a crushing blow to credit scores. While it will impact a person's credit, the effects do not...
When you file for bankruptcy, the court issues an order called an automatic stay. The automatic stay provides a freeze on your debts. According to Cornell Law School, the automatic stay will help to pause actions by creditors against you in most cases. It serves as a...
When credit card debt grows out of control, your financial future may be in jeopardy. That is why establishing a reasonable budget - and sticking to it - is so important. A budget can keep you on track financially, but it can also ensure you are able to pay down debt...
Debt forgiveness can allow you to clear your debt by paying less than you owe. It does not erase the full debt or leave you without consequences. U.S. News and World Report explains that many people misunderstand what debt forgiveness is and think it works like...
