When you are ready to rebuild your credit, a number of strategies will help get you back into solid financial shape. When you are barely able to make minimum payments on your credit cards, filing for bankruptcy will give you a fresh start with creditors. While some debts, such as back income taxes and student loans won’t be erased in a bankruptcy, you’ll be able to rid yourself of the burden of most other types of debt. Once you file for bankruptcy, you can begin working on rebuilding your credit one step at a time.
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Choosing to go through the process of bankruptcy was likely a very difficult decision but now you have the opportunity to start new. The New Year is a great time to create new habits and ensure you get started on the right foot financially. Use these tips to help you accomplish your financial goal after bankruptcy this year.
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If you find yourself in mounting debt that you are not able to take control of, you may be considering liquidating your retirement savings in order to get rid of the debt. While this may seem like a simple solution to get back on your feet, you should take precautions for a number of reasons before you decide to empty out your retirement to cover your current debt.
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When finances are out of control and unpaid bills become overwhelming, people may consider filing for bankruptcy. The truth about bankruptcy is that it can provide debt relief in many situations and help people to get their lives back on track. A qualified bankruptcy attorney will guide clients through the process of filing the necessary paperwork and attending court hearings. Unfortunately, there are some misconceptions about bankruptcy that can prevent individuals from getting the help they need. Let’s clear up a few of these issues.
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For some people, bankruptcy leads to divorce and vice versa. Dealing with both at the same time may seem like an impossibility but there are tricks you can use to make both go a bit smoother. Before you file for either, consider these situations and decide which is the best option for your situation.
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The new year provides you with an opportunity to make a fresh start on your finances. If you’re going into the new year with debt, it’s important to take steps to reduce it as much as possible. Use the following tips to stay on track financially in 2017 while getting rid of debt and not acquiring more.
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If your wages are garnished from your paycheck or you are facing the possibility of wage garnishment, you should know your rights to ensure that the right amount is being deducted. There are federal regulations that outline how much can be garnished from your paycheck. So how much is allowed to be deducted from your check for wage garnishment?
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The holidays can be very costly and many people go into debt as a result. If you are not wanting to avoid this risk, we recommend creating a budget and sticking to it all season. That can be easier said then done but if you follow these five tips, you can be successful and not occur any more debt at the end of the holiday season.
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Planning out your expected expenditures for the next year is essential for successfully managing your finances. By crafting a budget that is realistic, you can increase your ability to get loans and other funding, minimize the risk of personal bankruptcy and create a good estimation of your expected net income for the next year.
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In general terms, wage garnishment is an order from a court or a government agency, like the IRS, that requires an employer to withhold money from a person’s paycheck for the repayment of a debt. This means that a creditor has sued the debtor and won a judgment for the money owed. However, in some cases, wages can be garnished even without a court order. This may occur when a person defaults on a student loan or falls behind on child support payments.
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Depending on the organizational structure of the business, business debts can be discharged through either Chapter 7 or Chapter 13 personal bankruptcy. In short, debts incurred by sole proprietorships or general partnerships are covered by and can be discharged through personal bankruptcy while the debts of a limited liability company (LLC) or corporation cannot be. Click here to read more »
Many college graduates today find themselves struggling to repay their student loans. Unfortunately, there are lots of scams out there that entice borrowers with promises of quick and easy loan forgiveness. Consumers need to be very careful when considering options to erase their student loan debt. If something sounds too good to be true, it is probably not legitimate. Here are some common scams to avoid. Click here to read more »
Are you worried about losing your home or other property during a bankruptcy? When a person files for bankruptcy, they are often able to protection certain types of assets – these are known as bankruptcy exemptions, and they can help you protect your property and keep your home safe. Click here to read more »
Your debts have become overwhelming and you need to begin again on a clean slate. How do you choose an experienced and professional bankruptcy lawyer? With advertisements posted on billboards and even at bus stops, how can you find a bankruptcy attorney that will help you through the process and give your case the time and attention in needs? You need representation from experts in their field and sound advice to help you make the most of the bankruptcy process. Learn how to choose the right bankruptcy attorney for your individual situation today. Click here to read more »
If you have already filed for bankruptcy once in your life, then you likely already know that you do not want to do it again. While bankruptcy can be very helpful in many situations, it also has its drawbacks. If you can avoid it, then you want to do just that at all costs. Getting your life back on track and learning new financial habits can help you avoid a second bankruptcy. Use these tips to stay frugal and live within your means.
Tips to Follow to Avoid Bankruptcy
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If you are struggling to pay your bills, overwhelmed by debt or completely stressed out by your finances, then bankruptcy may be the right solution. This process is designed to allow you to eliminate your debts or to arrange to pay them back in a more reasonable matter. Once you begin the process, you’ll also get relief from collections efforts; if you’ve been coping with debt collectors, filing bankruptcy will stop the phone calls and letters. There are two types of bankruptcy and an attorney can help you determine which option is the best solution for your situation. Click here to read more »
As part of the bankruptcy process, all of your debts need to be examined to determine if they should be included in the filing. Not all debts are automatically included in the filings which is where proof of claims come into play. Learn more about proof of claims and everything that goes along with them in this article. Click here to read more »
Having a clearly defined budget is a must. Having a clearly defined budget written down or on your phone is even better. Use an app to stay within your means with ease. And do not spend a dime to do so. Click here to read more »
The need to keep up with the Joneses can feel very real and very daunting. Especially in suburbs of large cities like Atlanta. Are you living in a suburb and hoping to save some money? Look no further, here are some of the best ways to save money while living in Marietta.
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If you are facing a holiday season that might be less than jolly because of facing financial woes, resolve to shift the focus this year away from what you can’t do to the things that are really important to you and your family.
In order to do this, schedule a family conference well in advance to agree on a holiday strategy. Many families have strong opinions about the holidays, therefore, it is important to set expectations as a group. Read our list of alternative holiday suggestions to get started.
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