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June 2015 Archives

Which credit card do I pay off first?

If you are like most Americans, you have a bit of credit card debt to take care of. In fact, the average household has more than $7,000 in debt, leaving many families unsure how they are going to get out of the hole. No matter how you look at it, there are three general methods for paying down the debt once and for all.

Petitioning for bankruptcy on your own: a good idea?

Doing something on your own, from building a backyard deck to working your way through school can be one of the greatest senses of achievement that a person can realize, even if it means overcoming hurdles and weathering adversity before the reaching the goal. Most any do-it-yourself person knows, though, that before getting started it is helpful if not necessary to ask questions meant to explore whether the endeavor is really something he or she can take all the way to a successful conclusion. If the answers to these questions are negative, there is nothing wrong with calling on professional assistance instead of risking an unwanted result.

Frequently asked questions about chapter 13 bankruptcy

Even the most financially secure people sometimes face financial hardship. Whether facing sudden unemployment, an underwater mortgage, mounting credit card debt or other financial challenges, bankruptcy can offer a fresh financial start. Chapter 13 is one option available to individuals that offers debt relief.

What are some ways to avoid going into too much debt?

In some ways, your "Battle of the Budget" does have some parallels to real war. You have tactical decisions to make, and some strategic ones, too. And when it comes to dealing with debt, your weapons can range from "small arms" like keeping a budget to "the nuclear option" of personal bankruptcy.

How often can I make use of bankruptcy?

Bankruptcy may be considered to be an extreme measure of debt relief, but there is nothing to prevent people from experiencing extreme debt situations more than once in their lives. Many famous and ultimately wealthy individuals throughout U.S. history have had to resort to personal bankruptcy on more than one occasion. So how often can a person file for bankruptcy? The answer depends heavily on the type of bankruptcy one petitions for. This post will address the question with regard to the two kinds of bankruptcy used most often by individuals, Chapter 7 and Chapter 13.

Your debt relief solution needs an individualized approach

You can find yourself in financial difficulty for any number of reasons, for example, the loss of a job, a business failure, a serious illness or injury that leads to overwhelming medical costs, and more. Just as your reasons for getting into an unmanageable debt situation are unique to your circumstances, there are specific considerations that you will need to consider when deciding how to cope with such financial concerns.

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