What Does Discharge a Debt Mean?
When your financial situation becomes unmanageable because of overwhelming debt, bankruptcy may be an option to consider. A part of the bankruptcy process is the discharge of a debt, which means the debt is no longer required to be paid off. But what exactly does the discharge a debt mean? Let’s take a closer look […]
Three Common Types of Debt
Debt is a common issue that many people face in their daily lives. However, not all debt is created equal. Three of the most common types of debt are medical debt, credit card debt, and mortgage debt. Understanding these common types of debt and how they may impact your financial standing is crucial to make […]
Basics of Budgeting
Budgeting is an essential part of personal finance. Being able to track and manage your expenses is key to financial success. A budget helps you identify where you are wasting money and plan for future expenses. Budgeting also allows you to create a roadmap for reaching your financial goals. It can be a daunting task, […]
Does Bankruptcy Help with Medical Debt?
Medical debt is one of the leading causes for bankruptcy right after loss of income. It is a debt that all too often accumulates due to a major emergency injury or a unexpected catastrophic illness. With the rising costs of medical care, inadequate health insurance, and insufficient personal income, it is no shock that individuals […]
Debt Collectors Illegal Tactics
Debt collectors have long been known for their aggressive tactics when it comes to collecting payments from debtors. In recent years, debt collectors have been accused of using illegal methods to collect money from those in debt. These tactics can range from making threats of legal action to using false or misleading information. Unfortunately, […]
Student Loan Debt and Bankruptcy
Getting rid of student loan debt is an issue that affects thousands of Americans. Bankruptcy is often a top choice for a fresh financial start, but borrowers are not automatically entitled to a discharge of their student loans. Depending on your situation, you may need to file a forbearance request or negotiate a more reasonable […]
Will Bankruptcy Affect Taxes?
One common question people have during the bankruptcy process is if bankruptcy affects taxes. They wonder how filing for bankruptcy protection will impact their tax burden. While every person’s tax situation is different, there are some commonalities worth noting about taxes and bankruptcy. Here are some things that you should know: Bankruptcy and Back Taxes […]
What Does a Bankruptcy Trustee Do?
A Bankruptcy trustee plays an important role in the process of filing for bankruptcy. They are a crucial part of the process and can help ensure that it runs as smoothly as possible. In this article, learn what bankruptcy trustee does and the responsibilities they have. What is a Bankruptcy Trustee? A bankruptcy trustee is […]
Can Student Loan Debt Be Discharged with Bankruptcy?
If you’re having trouble making ends meet in part because of your student loans, you might wonder if there is any way to get out from under that financial burden. Fortunately, there are a few options available to help ease the strain—especially if you’re facing an imminent drop in income or standard of living due […]
Things To Do to Recover from Bankruptcy
Bankruptcy can be a useful tool for dealing with overwhelming debt and relieving pressure, but it’s not something that anyone wants to enter into lightly. Once you have filed, fortunately there are things you can do to recover from bankruptcy faster. Undergoing bankruptcy doesn’t have to be difficult. But you will have to get over […]