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Bankruptcy is usually deemed as your last resort – the only option to save you from drowning in debt. However, bankruptcy is an incredibly common option for most families and adults who are struggling with their finances. You don’t have to be in dire circumstances to apply for bankruptcy, especially if you’re concerned about a specific income bracket for your…
Over the last few weeks as the holidays have approached, you’ve likely been hustling and bustling between a lot of different stores to get everyone close to you the perfect gift. Now that the weather is colder, you may have encountered some icy sidewalks or parking lots in your shopping adventures. If you slip and fall and literally break your…
Fear of the unknown is a powerful motivator for many people. For those overwhelmed by massive debt, many are afraid they’ll lose everything they own when filing for bankruptcy, including retirement savings and even Social Security benefits. That fear often leads them to do nothing, which is usually the worst thing they can do. In reality, most retirement funds aren’t…
When most people think of the benefits of working out, their minds go to physical health and fitness. They imagine weight loss, lower blood pressure, longer lifespan and overall better health. However, there are other types of workouts with huge benefits. For a business owner, they may want to consider a financial workout, which is when a company works closely…
Debt collectors are intimidating to most people because they rely on invasive techniques to receive payments or funds from certain customers. For extreme collectors, they may even resort to improper fear tactics to receive the payment they want. And now, the Consumer Financial Protection Bureau (CFPB) allows debt collectors to work through a new avenue to contact consumers, the internet.…
Bankruptcy Courts across the country are increasing their filing fees effective December 1, 2020. Here is a sample of some of the more common fees that will increase: For filing an amendment to the debtor’s schedules$31$32Search of record or indexes$31$32For filing any document that is not related to a pending case or proceeding$47$49For filing a petition, or splitting a case,…
For many entrepreneurs, there is a thin line between your personal finances and your company accounts. However, it begs the question if that means that business debt becomes your personal problem? The answer is complex due to how you structured your business and how you operated the company’s finances. The Business Structure Depending on your structure selection, you may be…
Buying a home is one of the biggest purchases you make in your entire life. It usually requires in-depth planning and budgeting in order to maintain the right house in your right budget. However, it’s still challenging to determine what is affordable for you. There are a few strategies that homeowners can use to determine their price limits for any…
With Thanksgiving and Black Friday right around the corner, many people begin their holiday budgeting early to ensure they have the best gifts at the best prices. Unfortunately, the holiday season is typically a stressor in terms of people’s finances. Many Americans end up overspending over the holidays and driving themselves further into debt. According to a poll from creditcards.com,…
Americans continue to see a rise in foreclosures as the mortgage bubble shows signals that it is about to pop. However, many families feel stuck because they do not want to uproot their children and they cannot afford their current residence. With over 250,00 new families entering foreclosures every three months, it begs the question of how potential foreclosures affect…