As millions of Americans struggle to make ends meet, the need for immediate cash is one that many people share. While some choose to pawn personal items or seek the assistance of a family member, many others choose to get cash advances in the form of payday loans. Low-income families most commonly utilize this service…
If you have considered filing Chapter 7 bankruptcy, you have likely heard about the Means Test. The purpose of the test is to determine whether or not you can afford to pay off your debts. The courts determine eligibility through the analysis of income, payments, and expenses. If they find that you can afford to…
There are many mysteries surrounding bankruptcy. Will I lose my home or car? Do I need to be completely broke to file? These are just a few of the questions that many people have. Another common inquiry regards the possibility of obtaining credit after bankruptcy. While it is a possibility, you should know that applying…
Debt accumulation is an issue millions of Americans deal with and comes in many various forms. Consumer debt is one of the most common debts, originating from the likes of credit cards and payday loans. High interest rates can make it nearly impossible to become debt-free, forcing people to consider bankruptcy as a viable debt relief…
Debt accumulation is an issue millions of Americans deal with and comes in many various forms. Consumer debt is one of the most common debts, originating from the likes of credit cards and payday loans. High interest rates can make it nearly impossible to become debt-free, forcing people to consider bankruptcy as viable debt relief…
Lawyers refer to Chapter 7 bankruptcy as “liquidation bankruptcy” for a reason. During the process, assets are identified and categorized as either exempt or nonexempt. You are expected to honestly identify all of your assets to the courts or face legal repercussions. The topic of exempt and nonexempt assets is a state-to-state issue with an…
Millions of Americans struggle to manage their debt every day. Debt can come as a result of many different factors including opening a credit card and taking out a loan from a private lender. While most understand the responsibilities of using credit, some may have difficulty paying back the full amount owed. Over time, the…
Running a small business is no simple feat. There are a plethora of reasons why a small business may fail, but it is ultimately a sad possibility of becoming a business owner. It is not only small businesses that fail; large corporations that have thrived for decades also face the decision of whether or not…
For someone considering bankruptcy as an option, you may not be completely unaware of how to go about it. You may be aware that you will need a bankruptcy lawyer to handle particular aspects of the process, but may not be too sure about what exactly your attorney should be responsible for. When you agree…
The sad truth is that millions of Americans are currently in debt. It may seem tough to stay out of debt but the secret to managing your debt is to understand it. Not being fully aware of the type of debt you have can lead to many unforeseen consequences. You may allow one debt to…
