Statistics from the Employee Benefit Research Institute determined that Americans age 55 and older face an increased rate of debt. From 1992 to 2013, the number of families with individuals in that age range struggling with debt rose from 53.8 percent to 65.4 percent. People who are retired have also amassed certain types of debt,…
In most cases, bankruptcy stops wage garnishment if the person files before the garnishment begins. Once a consumer files bankruptcy, creditors aren’t allowed to pursue them any further. Even the threat of bankruptcy is sometimes enough to stop a creditor. Suing for payment is often considered a wasted effort if a legal procedure is in…
Filing for bankruptcy is a stress reliever for most people. There are a lot of negative associations people have when it comes to declaring Chapter 7 or Chapter 13, but they aren’t all true. If you’re in the right financial situation and handle paperwork accordingly, changing your economic status through bankruptcy can help save you…
Debts are part of everyone’s day-to-day life. Most people use credit cards, take out loans, and finance large purchases at some point in their lives. There is such a thing as good debt, and that’s the kind that gets you a higher credit rating. On the other hand, a person can overspend. Sometimes there are…
The “golden years” have often been seen as a time of security and relative prosperity, but an increasing number of American seniors are finding themselves facing financial difficulties. This issue is made worse by the fact that longevity is increasing among Americans while their pensions and retirement savings may be decreasing or perhaps disappearing completely….
Finding a solution to your debt problems is rarely straightforward. Companies that advertise services that get you out of debt often focus on just one solution, which may not always be the right one for your situation. While debt consolidation and bankruptcy are two common ways of getting out of debt, they work very differently….
Managing personal finances today is harder than ever before. Due to the increasing cost of living, historically high medical expenses, and flat wages, many people are struggling to get by. For those that find themselves in overwhelming debt, filing Chapter 7 or Chapter 13 bankruptcy could make sense as it will allow them to organize…
After going through a bankruptcy, rebuilding credit may be difficult but it’s not impossible. For the millions of people with a bankruptcy on their record, a few simple steps can help build up a credit score again. Here are 10 ways to rebuild your credit after filing for bankruptcy in Louisiana. Start Budgeting Before you…
Life today comes with many financial challenges that were not common just a couple decades ago. As the cost of living, healthcare, and education continue to outpace the rise in income, this challenge will only continue to grow. Luckily, it’s not all hopeless, the law has created ways for people to stay in control of…
Most people equate bankruptcy with financial irresponsibility, but the truth is people declare bankruptcy for all types of reasons. Filing for bankruptcy can help a lot of families solve financial problems that arise from numerous instances. Medical expenses top the list of reasons for bankruptcy. Job loss, divorce, credit card debt, and tax liens are…
