Sometimes it's easy to get into credit card debt,but hard to get back out. Circumstances such as a floundering economy or a failed marriage can leave an individual struggling just to pay the monthly interest on their unsecured debt.
Paying only the minimum payment on your debts means that the principal, or the amount you owe, never goes down, so you're stuck in a an ongoing cycle of debt. Filing for Chapter 13 bankruptcy protection may be your best bet for getting back on your feet and freeing yourself from this burden. Read More...
Bankruptcy is something you can file if you need serious help getting out of debt, and it is something you can do alone or with your spouse. Married couples do not have to both file, if just one needs relief; however, there are three important things you should know if you are considering filing alone while you are married.
Both Incomes Must Be Included
The branch of bankruptcy you file will be dependent upon your income. Read More...
If you are absolutely up to your eyeballs in debt, filing for bankruptcy can be a way out. However, it does have its consequences. The bankruptcy will appear on your credit history for 7 - 10 years (depending on the type of bankruptcy you file), and the process of going through bankruptcy is time-consuming and stressful, too. Thus, it is worth your while to try a few other possible financial solutions before you resort to bankruptcy. Read More...
If you are married and have a lot of debt, you could file for bankruptcy with your spouse or by yourself. It is often better to file jointly; however, filing alone is fine in some situations. If your spouse is against filing for any reason, you could still go through with filing on your own, but there are several things you should know before you do this. Here are three important things to think through before you file alone. Read More...
If you've owned and operated your own service-based business for years but have decided to finally retire, you'll likely want to liquidate any remaining assets before closing your business for good. While selling a service-based business is possible in most markets, it can be tough to find someone who will maintain your business's goodwill among the community and perform work up to the standards you've spent decades setting. However, closing your business has some potential consequences as well. Read More...