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…
One concern that many people have when they’re filing for bankruptcy is the fear that friends, relatives, or coworkers will find out about it. Privacy is essential, especially when it comes to a family’s finances. While filing for bankruptcy is a matter of public record, there will only be a few entities that are actively…
If you decide to close your business, you’ll have to liquidate its assets. Simply put, this means that you’ll be turning any remaining business assets into cash. Assets include tools, equipment, and furniture. In most cases, the proceeds will be used to pay off creditors, but if your business is relatively debt-free, a significant portion…
When you are meeting with a bankruptcy trustee, they may advise you not to hire an attorney to represent you. Most likely, they will try to explain that hiring an attorney is not worth the money and that the trustee can handle much of the work for you. While this may seem like an excellent…
Though foreclosures are no longer at an all-time high as in previous years, millions of the country’s homeowners are still facing the financial, emotional, and personal difficulties associated with foreclosure. Misinformation and misconceptions may significantly affect a homeowner’s ability to make a fresh start, and that is why E. Orum Young has assembled this list…
Small business owners experiencing an unexpected cash deficit may find themselves in a position where it’s necessary to liquidate portions of their assets. If you’re a business owner selling your company’s assets, you may have to choose between how much you can earn, and how quickly you can sell those assets. If a business is…
