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Bankruptcy is a viable option for those in financial trouble. It can provide the opportunity for a fresh start. Nonetheless, bankruptcy is not always straightforward, and it’s normal to have questions. One issue that consistently arises is whether or not bankruptcy affects employment. Here are some…
Repossession is a legal process where a lender or seller takes back property that was purchased through a loan or financing agreement when the borrower fails to meet the terms of that agreement. Typically, repossession applies to items such as cars, appliances or other large-ticket items…
It is important for homeowners to mentally prepare for the fact that if their home is sold as a result of foreclosure, they may remain financially liable for a foreclosure deficiency balance. Understanding this reality can help homeowners to decide whether pursuing a bankruptcy in order…
People file for bankruptcy for relief from financial stress. They want to prevent a successful creditor lawsuit or end frustrating phone calls. Most people can achieve those goals with a timely bankruptcy. Those who take action before a creditor secures a judgment can prevent wage garnishment…
If you’re considering bankruptcy as a solution to your overwhelming debt, you’re likely thinking about the effects it will have on your family. For example, it will mean that your kids will also need to live more frugally. However, you’ve probably already had to make sacrifices…
Becoming a homeowner is a cornerstone of the modern American dream. People want to establish equity in their own homes instead of paying the bills of a landlord. They may work hard on improving the home by making repairs. They may also spend as much as…
Cash advances may seem like a quick financial solution when an individual needs immediate access to money. They allow borrowers to access cash from a credit card, personal loan or payday lender, often without extensive paperwork or long approval times. However, what appears to be an…
Medical debt remains a leading cause of personal bankruptcy in this country. One catastrophic injury or prolonged illness can leave an individual or family owing hundreds of thousands of dollars in medical bills. What people don’t often realize is that many of the people buried in…
People end up with high levels of medical debt for a variety of reasons. In some cases, the issue is a lack of insurance. Other times, people have insurance but require uncovered care, such as treatment at an out-of-network hospital. High coinsurance rates and large deductibles…
Filing for Chapter 7 bankruptcy can wipe out many of your debts and allow you a fresh start in your financial life. However, not all debts are treated the same way. Secured debts, in particular, come with added complexities because they are backed by collateral –…
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