Zombie debt – it sounds creepy and if you don’t understand what it is, your financial standing can be eaten alive. Zombie debt is another way of describing junk debt, or more officially, delinquent debt. This is debt that has been written off by the original lender and sold to companies that hope to collect […]
Mortgage modification changes your original mortgage agreement. It is typically done to help make the mortgage repayment process easier for homeowners. Modification lowers monthly mortgage payments and can prevent default if you are struggling financially. Banks offer or grant loan modification requests because it is in their best interest to help you repay your loan. […]
If you are dealing with debt and creditor harassment, you might benefit from filing for bankruptcy. Most people, even those without financial problems, understand the basics of bankruptcy. If financial strain reaches the point where bankruptcy is your best option, you might be tempted to go it alone. It is possible to file for bankruptcy […]
One of the biggest reasons people facing financial turmoil avoid bankruptcy is because they are concerned about losing their assets. Fortunately, it is possible to retain ownership of your home, your vehicle, and protect your assets when you file for bankruptcy. Choosing the Right Type of Bankruptcy to Protect Your Assets The key is to […]
According to recent statistics, approximately 60% of the nation’s 20 million college students borrow money annually to help cover the cost of paying for college. National student loan debt is more than $1.2 trillion, so it’s no wonder it has a major impact on the lifestyles of college graduates. Add to this debt burden the […]
Facing financial hardship can be unavoidable. Even those who try to be extremely responsible when it comes to managing their money can experience unexpected conditions that cause them to struggle with finances. However, there are many instances in which poor financial choices lead a person down the road to a struggle with money. If you […]
For most people, bankruptcy is a once in a lifetime experience. They use it as a tool to repair their financial standing and ensure they have the same opportunities in the future as someone who never faced financial hardship. For some though, bankruptcy is not enough to change their approach to money. And in some […]
Bankruptcy is an effective tool for helping you regain financial footing after a difficult financial struggle. It is a process that allows you to organize your debt and in some cases, alleviate certain types of debt completely. Bankruptcy is temporary and once your bankruptcy is discharged, you will need to take action to re-establish your […]
Bankruptcy is a personal choice and can be a difficult topic to discuss with your loved ones. Some people might feel obligated to share their decision with friends or family if they have turned to these people for financial support in the recent past. Of course, if your bankruptcy and overall financial situation will cause […]
Wage garnishment occurs when creditors receive money directly from your paycheck to satisfy a debt. A court order is needed for this to occur and it is often a “last resort” used by creditors to obtain their money. For many, back tax payments to the IRS are what trigger garnishment, though it is possible for […]
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