Dept Management
Filing for bankruptcy is a significant step that can offer relief from overwhelming debt, but it’s not without complexities. The legal process involves intricate paperwork, strict deadlines and detailed knowledge of financial laws. Navigating this maze can be challenging, especially when you are already under financial stress. While some people…
Key takeaways Review medical bills for errors and confirm coverage with your insurance provider before paying. Medical service providers may be willing to offer discounts or arrange interest-free payment plans. Financial assistance, loan programs and lines of credit can help you cover the remainder of the bill. If medical debt…
Key takeaways Unemployment benefits are usually protected from wage garnishment. In some cases, your unemployment benefits can be garnished if you owe income taxes, student loan debt, child support or alimony. Filing for bankruptcy may help you protect your unemployment benefits from garnishment even for these reasons. Making a plan…
Key takeaways Although bankruptcy will create financial challenges in the future, there are still steps you can take to help reestablish your credit profile. To get your credit score to a good place, pay your bills on time and look at other methods like opening a secured credit card or…
A discharge in bankruptcy legally eliminates the debtor’s obligation to pay specific debts, providing financial relief and stopping collection efforts from creditors. While bankruptcy discharge can eliminate many unsecured debts, certain obligations like child support, alimony, most tax debts and student loans are usually ineligible for discharge. In Chapter 7…
Key takeaways Debts taken on during the marriage are often shared, while those incurred before or after may remain the responsibility of the individual who created them. Whether you live in a community property or a common law state determines how marital debt is split after divorce. If one spouse…
Key takeaways A debt management plan (DMP) makes it easier to manage your unsecured debts as you’ll likely get a more affordable monthly payment. If the credit counselor successfully negotiates a DMP with your creditors, you can avoid collection calls, save on interest expenses and get out of debt sooner. Debt…
Fifty-nine percent of Americans are uncomfortable with the amount of money they have stashed in an emergency fund. When people need cash quickly in a difficult situation, they may turn to resources like payday loan apps. These digital cash advance platforms offer a quick and easy way to borrow money,…
Key takeaways The court could dismiss your case or change it to Chapter 7 if you’re late on your Chapter 13 payment. You can request a payment reduction or amendment if you’ve faced an unexpected financial hardship. If you miss a payment or think you could be late in the…
Key takeaways You can defer Chapter 13 bankruptcy payments if you encounter unexpected financial hardships. Other options for adjusting Chapter 13 bankruptcy payments include asking for a hardship discharge, changing to Chapter 7 bankruptcy or dismissing and refiling your case. To be sure you’re taking appropriate action for your…
