While bankruptcy is sometimes the ideal solution for individuals who have buried themselves under excessive debt, it isnt the answer to all debt problems. Unfortunately, not all debts can be completely erased by a bankruptcy- and in some cases, the debts cannot even be reduced or placed in a repayment plan under a Chapter 13 or through a debt management program designed by credit counselors to get consumers into a better financial position.
Stop Creditors In Their Tracks With Bankruptcy
Nobody likes to get phone calls from collection agencies. Despite laws intended to protect consumers from harassment, most collection agencies make you very uncomfortable when theyre trying to get the money from you and will call you several times a day. If you have gotten to this point with your financial situation, its no wonder youre considering filing bankruptcy for some relief!
Negative Side Effects Of Debt
For any person, debt is like this illness that never goes away, it persists and persists, never truly getting better until action is taken. The comparison works because like an illness, debt can cause a great deal of suffering and pain to those who have trouble paying their bills each more, or at all. Immunity against debt is non-existent, everyone is susceptible. Debt can go beyond simply the inability to pay bills on time, it can literally cause both physical and mental hea…
Making Good Debt Decisions
Debt is no stranger to most Americans. Credit is becoming easier to obtain and people are charging well beyond their means and at interest rates reaching 20% or more. While debt is a scary word that usually is seen in a negative light, not all debt is bad. You can actually make intelligent decisions and use debt as a vehicle for building personal wealth.
Choosing A Debt Couseling Program
If you are an individual that is having trouble finding relief from your debts and you feel there are not other options, you should look into getting help from a debt counseling program. A debt counseling program is designed to help individuals to get caught up on their debt and to also teach you how to avoid debt problems in the future. There are many programs; some legit and some are not legit. There are important keys and information that should be researched before choosi…
Bankruptcy Fundamentals
Bankruptcies can be called reorganizations or liquidations, depending on which type of bankruptcy you decide to do. Both a Chapter 7 and a Chapter 13 bankruptcy are federal court processes that are meant to assist businesses or consumers to get rid of their debt or to repay the debt with protection provided by the bankruptcy court.
Bury The Debt Monster: Part One
In this series of articles, you will be able to follow along at your own pace as you work to bury the debt monster and regain complete financial control. Whether you were like a child in a candy store or you simply spent a little more than you made every month over a long period of time, your debt can be crippling- and effect all other aspects of your life. Use this series of articles to turn it all around!
Bury The Debt Monster: Part Three
You knew at some point wed have to use the B word. That dreaded word that rhymes with fudge-it. Unfortunately, in order for you to successfully bury the debt monster and regain (or create!) financial independence, its necessary that you dont fudge your budget.
Bury The Debt Monster: Part Two
Now that youve taken inventory of all the debt you currently have, its time to do something about the amount of bad debt you have. You probably had some fun getting into debt, and took your time building that massive portfolio of outstanding accounts; unfortunately, getting out of debt isnt as enjoyable! You will however, start feeling an enormous weight lifting off your shoulders as you start creating a plan to take over the debt monster once and for all- so lets get s…
5 Reasons To Consider Debt Consolidation
You have several options when it comes to eliminating and rising above the debt that has taken over your life. One of the best options is debt consolidation. In this article, we will discuss the top ten reasons you should consider debt consolidation over any other form of debt relief method available.
Advantages Of Bankruptcy
Consumers who are considering filing bankruptcy are faced with a lot of questions and are often not sure what the advantages could be- if any. Besides the obvious advantage of not having the debt that hangs over their head everyday, are their any other advantages of potentially damaging your credit report for 7 to 10 years by filing bankruptcy?