Many individuals have experienced credit card debt over the years. In the age of convenience, credit cards can have various benefits and may be easy to obtain. Unfortunately, if a person fails to make payments on time the situation can quickly become overwhelming....
Chapter 7
Benefits of consumer bankruptcy for retirement in Maryland
Many people struggle with choosing when to retire. For Maryland residents, the decision can be difficult for many reasons. Any previous debt accrued can be challenging to manage, especially on a fixed income. Credit card debt can play a significant part in preventing...
Escape credit card debt by seeking bankruptcy protection
Americans already carry a significant amount of credit card debt, and the holidays are a time of year that many people see their spending and debt balances increase. It is easy to become overwhelmed by credit card debt, but this situation can quickly begin to affect...
Bankruptcy protection can resolve overwhelming debt
Consumers in Maryland who have had to rely on their credit cards after job losses or unanticipated medical emergencies may end up with mountains of debt without much hope of being able to pay. Gaining knowledge about bankruptcy protection when other options such as...
Collection efforts while under bankruptcy protection may be legal
A case currently before the Supreme Court will address how debt is collected and the practices that collection agencies are allowed to use. This case stems from a situation in which a woman was expected to pay over $1,800 on a bill long after the statute of...
Consumer bankruptcy an option for credit card debt
When the economy improves, consumer confidence increases, and people begin to charge more on credit cards. In 2007, people were also overconfident with their money, causing to them to take risks with their long-term financial stability by carrying huge credit card...
Seeking bankruptcy protection for credit card debt
When a person is overwhelmed by credit card debt, it can have a negative impact on every area of life. From unexpected medical expenses to a prolonged unemployment period, people may find themselves dealing with the impact of circumstances beyond their control. When...
Credit card debt a leading reason for consumer bankruptcy
Credit cards are relatively easy to get, and Maryland readers may know that many banks are currently lending to consumers at an alarmingly high rate. In a three month period, banking establishments lent $18 billion to consumers, much of it in the form of revolving...
Consumer bankruptcy can resolve overwhelming credit card debt
It is not uncommon for consumers in Maryland to find themselves facing mountains of credit card debt. Many people find relief by filing for consumer bankruptcy protection made available by the U.S. Bankruptcy Code. Due to the prevalence of such filings, some consumers...
Consumer bankruptcy up for gas, oil and coal workers
There are a number of reasons why people in Maryland fall into financial troubles. Some are based on poor decision-making and irresponsible spending habits, while others are simply unavoidable. An example is found in recent statistics that show that workers in the...