What NOT to Say to a Debt Collector
When a debt collector calls, you probably treat it like a high-pressure sales situation. Avoid when possible, say no repeatedly, and try to get off the phone as quickly as possible. Unfortunately, these evasive strategies can lead to more severe consequences, like legal action against you. Yet,there are risks you ...
How to Determine if You Have a Debt Problem
Are you in the habit of paying for everyday purchases with credit?It’s easy to charge what you want and need, paying it back a little at a time. But if monthly payments do not exceed the amount charged every month, balances and interest charges grow. Over time, debt levels creep ...
5 Things to Know About DIY Debt Settlement
Do you want to know how to sew, change the oil, or fix a leaky faucet? In today's world, easy access to technology allows you to gain virtually any skill because there's a YouTube video for that. And yet, with all this access to valuable information, tailors, plumbers, and mechanics ...
5 Steps to Dig Yourself Out of Debt
Debt can be a double-edged sword. It allows you to purchase things you want and need but can ruin your finances if you borrow too much. It can also be tough to determine the amount of debt you can comfortably afford because circumstances can change unexpectedly. Owing more than you ...
5 Signs You Have Too Much Debt
Temptations to finance purchases are everywhere. You can finance virtually anything through an instant approval process, from email offers to enticing invitations at online checkouts. Provide a few pieces of information and pay the bill over time. Credit can become a tool for upward mobility when budgeting for major expenses ...
What Happens If You File but Don’t Qualify for Chapter 7?
When you think of bankruptcy,Chapter 7 is likely the one you imagine. Once you file, you get immediate protection from the court. Filing stops all debt collection activity, including phone calls and letters from debt collectors, court proceedings, and the enforcement of existing court orders. In other words, it can ...
What Happens if Chapter 13 Bankruptcy is Denied?
Personal bankruptcy includes Chapter 7 and Chapter 13. Filing Chapter 7 could allow you to eliminate debt without repaying creditors. However, you could lose assets, and you may not qualify if you earn above the median income in your state based on your household size. Chapter 13 is the only ...
The Top Reasons People File Bankruptcy
Struggling to pay bills not only takes a toll on your finances but can chip away at your physical and mental health. After months and sometimes years of struggle, you may decide that bankruptcy is the best way to achieve the debt relief you need. While the circumstances that lead ...
How to Convert Chapter 7 to Chapter 13 Bankruptcy
When you decide to file personal bankruptcy, you must choose how you file. In most cases, you will choose either Chapter 7 or Chapter 13. Chapter 7, also called liquidation bankruptcy does not require you to repay creditors prior to a discharge. However, you must liquidate or sell non-exempt assets ...
4 Ways You Could Lose Your Bankruptcy Discharge
Congress created bankruptcy to give consumers a fresh start when events occur that result in lower wages or higher bills, creating a long-term financial hardship. When you find yourself in these circumstances, you can petition the court for protection and relief. Protection comes through the automatic stay that halts collections, ...
