Most of the time chapter 7 is the best case scenario, however there’s also chapter 13. Chapter 13 should be used when there’s a lot of equity in a house or some other kind of asset that a debtor is trying to protect. An example of this can often be seen when a person comes … Read more
Is a debt management program, DMP the right choice for your financial situation? Many people are planning to file bankruptcy in the hopes of just getting their debt wiped clean. This has plenty of downfalls, of course, such as a 10-year black mark on your credit score, which will limit your access to new credit. … Read more
There are lots of options to becoming debt free out there, but you are looking for the best. The right debt free option depends on your financial situation which can be properly evaluated by a reliable credit counselor. One option you may consider is to pay off your debt on your own. This will … Read more
Foreclosure can be a court process where the lender proves that the borrower is in default on payments. The court may require the borrower to pay the entire remaining mortgage. If the borrower does not pay, the court will issue a statement to foreclose on the mortgaged house. Foreclosure can also be non-judicial and not … Read more
As time continue to change, so do people’s needs. That is why an 8-hour job is never enough to sustain new lifestyles. Because of this, we almost immediately turn to lending institutions in hopes that they will come to our rescue. And while borrowing can be a great quick-fix, debt is also a huge responsibility … Read more