Dave Ramsey, a financial guru, says there are two kinds of people who buy brand new cars. Millionaires and people who are not financially wise with their money. However, one-third of millionaires never buy new cars. For some of them, one reason they are a millionaire is less on how much they make but in […]
No person really wants to file bankruptcy. Many people who really need to file bankruptcy are resistant to doing so due to:
People often ask me a version of the following question: “Where do your clients come from? I don’t know anyone who has filed bankruptcy.” My response is normally something along the lines of “Well, do you know anyone who has gone through a divorce?” The response is always “Oh yes, I know lots of people […]
The busiest time for consumer bankruptcy filings is in March of every year. At least it is for our office. I believe that is for a couple of reasons, with the main reason being that people use their tax refunds (that they receive in March) to pay for a bankruptcy filing. That means that in […]
When people begin to have financial trouble, one place they often turn to for help is to family and friends. Family and friends can be a big help is alleviating short term financial problems. Borrowing money this way can be quick, free of interest, and often have very reasonable repayment terms. It can be a great […]
Article I, Section 8, Clause 4 of the United States Constitution says:
Bankruptcy and divorce are often linked together as one can lead to the other. The burden of debt and stress about finances can be a contributing factor for couples to file for divorce. Divorce can lead to a family needing two households and the increase in expenses can result in bankruptcy. The connection goes further […]
The answer to the this question depends on what type of bankruptcy you filed and several other factors.
What does it mean to reaffirm a debt? When you file for bankruptcy, you break every contract you have with all of your creditors, including your secured lenders (your mortgage lender, your car lender – any debt that is secured by a piece of property). A reaffirmation agreement is a way for the lender to […]
Filing Bankruptcy in the United States is a legal proceeding that allows a debtor to sever the liability to certain financial liabilities. In short, allows people to get rid of debt without paying it. But, just because a person can file bankruptcy, is it okay to file bankruptcy?