What to Do When Debt is Burying You Alive

Debt is a serious financial problem. According to Credit.com 80% of Americans are in debt, 44% have mortgage debt, 41% of millennials have student loan debt, 41% have car loans and 39% have credit card debt. While some people are simply spread thin by having too many bills or high credit card payments, others are unable to make the minimum monthly payments. When this happens, you may fall deeper into debt each month, and you may be wondering what steps you can take to re-gain control over your finances or to find relief from your burdensome debt issue.

Tips for Surviving Foreclosure

When foreclosure notices start coming in, it’s tempting to shut down and ignore the problem, hoping it will go away. But without facing it head on, the problem won’t be going away. Losing a home that you’ve built over the years is unimaginably difficult, yet many Americans face this reality today. Getting over the initial […]

5 Things to Consider Before Filing for Bankruptcy

Before making the decision to file for bankruptcy, take a credit counseling class to see the other options. Often, there are ways to deal with financial issues without having to involve the federal court. Counseling sessions can be had within a day, providing a lot of information most people don’t think of when frustrated about […]

Can I Overpay My IVA?

Recently we’ve been discussing bankruptcy but in the U.K. there is an alternative called an Individual Voluntary Arrangement or “IVA” which is a formal alternative for individuals wishing to avoid bankruptcy. Basically it is a structured repayment plan which may allow partial foregiveness of your debt. How an IVA Works The debtor’s income (A) and […]

Basic Bankruptcy Facts You Should Know

In the 12 month period ending March 31, 2012– 1,367,006 people filed for bankruptcy. This is down from  1,571,183 people who filed for bankruptcy in 2011 but up considerably from 901,927 in 2008, 1,202,503 in 2009 and 1,531,997 in 2010. If you have ever considered declaring bankruptcy, understanding the gist of bankruptcy laws will help you […]

Are You Too Broke for Bankruptcy?

Many Americans recently have faced the spectre of filing bankruptcy. Some of these people have been facing long-term unemployment and other factors due to the economic downturn in America. Is it possible to be too broke to file bankruptcy? People who have waited until their unemployment has run out, may be too broke to file for bankruptcy […]

Overspending Solutions- Government and Personal Debt

Government vs. Personal Debt- It is easy to say, “Expect the unexpected.” Tell that to the famous financial institutions that were either swallowed up or disappeared completely during the crisis created by Collateralized Debt Obligations (CDOs) a few years ago. Not only did the bosses not see the problems coming but the staff were astonished […]

How to Hurt Your Credit Score

Your credit score is extremely important in the world in which we live. Nowadays it’s hard to buy anything without having a good credit rating. In some cases, it’s impossible to get a job if your credit score isn’t very good. Because it’s central to your life, you may be punishing yourself by unknowingly doing […]