Payday Loans: Playing with Fire
Quick Fix or Burdensome Debt?– Financial Quick Sand of Payday Loans Payday loans provide a quick cash resource for many people, but more often than not, this quick fix can turn into overwhelming debt very quickly, burying a borrower in debt with massive interest rates attached. These loans are usually seen as a short-term solution for bills…
341 Creditors Meeting: A Debtor's Visit to Bankruptcy Court
In every bankruptcy, the debtor is required to visit the bankruptcy court for the 341 Creditors Meeting. The “meeting” is a hearing conducted by the bankruptcy trustee so they may ask the debtor questions about their financial condition. It is called the 341 Meeting of Creditors because the debtor’s creditors may also appear and question the…
Bankruptcy and Divorce: A Common Couple
Bankruptcy and Divorce: When your divorce leaves you broke, bankruptcy can give you a fresh start! Many times bankruptcy and divorce go together. A divorce is not only emotionally draining, but separating all the debts and assets of two people gained during a marriage can lead to financial instability. In a divorce all marital property…
Happy Mother's Day! — Show Mom you care without breaking the bank.
Make Mom proud this Mother’s Day! — (make responsible decisions about your money) Every Mother’s Day I try to figure out a really special gift for my Mom, which is no easy task because she always tells me the same thing, “Honey, I don’t need anything – I’d rather you just save your money.” She…
Medical Bills: Discharging Medical Debt
When medical bills make you sick, file for bankruptcy! With many Americans out of work, and therefore without health insurance, medical debt can put many families in a financial bind that is impossible to get out of. A 2009 study by Harvard researchers found that 62% of all personal bankruptcy filed was because of financial hardship…
Debt Problems of the Founding Fathers
Maybe the Reason the Founding Fathers Included Bankruptcy in the Constitution The founding fathers were the architects of american government, and we generally remember them as great infallible men. Yet several of them had personal financial problems that in today’s world would cause them to consult with a bankruptcy attorney. One of the founding fathers, Thomas…
5 Things Debt Collectors are Prohibited from Doing
Bad Debt Collectors! Even debt collectors have to play by the rules. It’s the end of the day – you just finished putting the kids to bed, cleaned the dishes, folded a load of laundry and all you want to do is relax. Then the phone rings…. and rings….. and rings again. You know the number…
10 Bankruptcy Commandments: Difference Between Discharge Success & Failure
To insure a successful bankruptcy, concluding in the discharge of your debts – follow these 10 Commandments: 1. Thou shalt not keep information from your attorney. Effective representation requires all information be provided. Information requested is required by the bankruptcy court; if not provided – cannot file. 2. Thou shalt not hide assets. The court…