The Eternal Impact of Claiming Bankruptcy to Rid Debt
The stress of carrying too much debt for the income you make could have you thinking that bankruptcy is the best way out. It seems easy enough. After filing a petition for relief, the collection calls stop. You turn your life over to the courts, and in about six months, ...
Myth: Your Finances Will Be Worse After Debt Settlement
Reality:The goal of debt settlement is to get you back on your feet financially. When you follow the program recommendations, debt settlement could significantly improve your financial well being. Financial health and credit scores do not always work in concert. Consumers who carry too much debt will often have the ...
Who & What Keeps Score? The Difference Between FICO, Vantage, and Beacon Credit Scores
Credit scoring companies and lenders have recently increased consumer access to credit scores creating both interest and confusion. Today you can get a free credit score from most banks and credit card companies, along with third-party vendors like Credit Karma. The problem is that your credit score is not the ...
Gamify Your Debt Relief! Use Games with Goals To Stay On Track and Have Fun
Everyone could use a little more fun while mastering the tough stuff in life. Money management can make you feel more like a firefighter than a money mongrel. Plus, you want to move from putting out financial fires every month, just getting by, or trying to shuffle bills based on ...
The Chapter 13 Bankruptcy Trap
Chapter 13 bankruptcy requires you to repay creditors for five years before receiving a discharge of qualified debts. After taking a pre-bankruptcy course through a HUD-approved credit counseling agency, you can file for bankruptcy protection. The filing immediately shields assets with a temporary stay by stopping any court proceedings, such ...
5 Strategies to Get Your Finances in Order in the New Year
The new year brings the opportunity to make adjustments that can change the trajectory of your financial wellbeing. To capitalize on this opportunity, you must do things differently. Instead of making grand goals, you will abandon by the end of the month, try the following strategies to get your finances ...
Myth: Enrolling in Debt Settlement Will Destroy Your Credit Forever
Reality: While you will experience an initial decline in your credit score, it is temporary. Unless you plan to finance a new home or vehicle, you will likely see little impact on your life during the short time you have impaired credit. What Your Credit Score Really Measures Lenders put ...
How to Avoid a Default Judgment – Never Wait Until a Creditor Sues
Nobody likes dealing with creditors and debt collectors trying to recover past due balances. The process starts off cordial, but an inability (or unwillingness) to pay the balance in full can lead to more aggressive actions by collectors, including the threat of litigation. However, this happens much less frequently than ...
Filing Unemployment: A Step-by-Step Guide
The coronavirus pandemic has left millions of workers unemployed through no fault of their own. To address this growing need, the CARES Act expanded qualifications and increased payouts for millions of US workers, bringing payouts closer to full wages. 578
Myth: Credit Counseling is Always a Better Option than Debt Settlement
Reality: Credit counseling might be the best debt relief option if you can pay your account's full balance within five years. On the other hand, debt settlement allows borrowers facing financial hardship the option to pay less than the total balance, eliminating debts in two to four years. Credit counseling ...
