Many debtors facing a personal finance crisis are often unable to figure out what they should do next to survive the storm. Below are four things every debtor should do whether or not they decide to file bankruptcy. Assess you financial situation honestly. Even if you never choose to file bankruptcy, you will need to [...]
Many debtors are surprised that after their bankruptcy is discharged they find themselves receiving many credit offers. Credit card companies, car loan lenders and even mortgage finance companies will send post-bankruptcy debtors credit offers hoping to capitalize on their clean financial slate. But beware; many of these creditors are subprime lenders who prey on people [...]
More families who have special needs children or other disabled dependents are considering bankruptcy. Because a disability can become financially draining, causing families to rack up hundreds of thousands of dollars in debt, bankruptcy is often a good choice. Whether the family member is blind, deaf or has some other physical or cognitive disability, special [...]
You may be suffering from debt related stress if you notice that you are experiencing apathy and lack of energy. The feeling that you don't care about your finances, debts or other financial stress is ironically a sign that you may be suffering from debt related stress. You may be suffering from debt related stress [...]
When the Credit Card Accountability Responsibility and Disclosure (CARD) Act was enacted it was designed to put an end to some of the practices used by credit card companies that negatively impacted consumers. But now that three months has passed since the CARD Act was signed into law, many debtors are still finding themselves exploited [...]
Debt settlement is becoming very popular now that the recession is stretching into its third year. One of the appealing aspects of the debt settlement pitch is the idea that a debtor can pay only pennies on the dollar for a debt and avoid bankruptcy. But the truth about debt settlement is that it rarely [...]
While many individual debtors opt for Chapter 11 bankruptcy only when they have exceeded the debt limits imposed on Chapter 13 bankruptcy debtors, there are situations when filing Chapter 11 bankruptcy may be beneficial even if the debtor is well within the debt limits of Chapter 13 bankruptcy. Why a debtor may want to choose [...]
Home furnishings retailer Furniture Factory Warehouse, which operates 12 stores in South Texas, has filed for Chapter 11 Bankruptcy protection due to unfavorable financial conditions and a consistent decline in furniture sales. The retailer has closed all of its stores and distribution facilities pending the bankruptcy court's approval of Furniture Factory Warehouse's "Bankruptcy Going Out [...]
The official national unemployment rate for the country is 9.7 percent. Millions of Americans are out of work and trying to figure out how to survive without a job. One of the biggest casualties of joblessness is not just the frustration and anger that accompanies fruitless job searches, but also the seemingly imminent financial disaster [...]
Debt is big business. That's why there are so many people out there invested in getting you indebted and keeping you that way. One of the ways they do this is by spreading myths about bankruptcy, which is the only legal way to have your debts forgiven. Let's take a look at some of the [...]