Having significant debt is a challenging situation, but can it actually affect mental health? In 2021, researchers conducted a study on the effects of financial difficulty on mental health. The National Library of Medicine published the results. How do financial...
Debt collectors must follow the Fair Debt Collection Practices Act (FDCPA) in order to ensure that they collect their money ethically. However, not every debt collector will abide by these standards. It is important to recognize debt collector misdemeanors and...
Paying for the items you use every day has undoubtedly become a struggle in the past couple of years. After all, even though many Americans have received pay increases, inflation has wiped out any meaningful economic gains. Indeed, according to reporting from CNBC,...
Coming to the decision to file a bankruptcy can be stressful even when necessary. However, there are filing options available for people under differing circumstances. The most common are Chapter 7 and Chapter 13 bankruptcies and each has advantages. Advantages of a...
Many people struggle with credit card debt, but options exist for them to regain control of their finances. According to CNBC.com, the average balance for credit card holders across the U.S. exceeds $6,100. Considering all the options available to them may help people...
If you experienced a hardship that sent you into collections, bankruptcy may offer the opportunity to return to a solid financial foundation. While a trustee sorts through creditors and decides who gets what, a judge cannot discharge every type of remaining debt....
Most mortgage terms are 15 or 30 years. However, some homeowners who are struggling with payments may seek home loan modifications that offer 40-year terms. Is a 40-year mortgage a good idea? What is a 40-year mortgage? A 40-year mortgage is a mortgage that borrowers...
When you file for bankruptcy, you want protection from your creditors and the bill collectors that are hounding you. Fortunately, you can depend on the power of an automatic stay. What exactly is this and how can it help you? A power tool When you file for bankruptcy...
Contrary to the common perception, bankruptcy is not a punishment or a failure. Rather, it is an opportunity for you to start fresh financially. As a consumer, you typically have two choices for filing bankruptcy: Chapter 7 and Chapter 13. Each has its own eligibility...
The United States Bankruptcy Code allows debtors to discharge some types of tax debt in bankruptcy. The amount of taxes you can discharge also depends on the Chapter of bankruptcy you file. You cannot discharge trust fund taxes or taxes withheld from other parties....
