Avoid Debt This Holiday Season
We don’t have to incur debt every holiday. Here are some tips that will allow you to avoid debt this holiday season without later financial regret. Budget Make your budget realistic and relative to you. Excluding this factor will decrease your chances of calculating a healthy budget. Approach this by remembering your past holiday spending, […]
Top 7 Reasons People Declare Bankruptcy
People don’t declare bankruptcy for the fun of it. Bankruptcy results from a financial hardship from which a person cannot recover within a reasonable amount of time. Lots of circumstances can lead to personal bankruptcy. Here are the top 7 reasons people declare bankruptcy. Job loss Unemployment benefits simply do not cover living expenses. Losing […]
Use Creative Destruction to Refocus Your Personal Finances
Austrian-born American economist and political scientist Joseph Schumpeter coined the term creative destruction in 1942. “Creative destruction” is the willful reconfiguration of an existing economic system in order to clear the ground for the creation of new wealth. There are obviously many nuances to the economic theory. But you can use the concept of creative destruction […]
When to Consider Filing Bankruptcy
In most cases, the very last thing any person wants to do is to consider filing bankruptcy. In many cases, an average person will wait two years longer than he or she should have to file bankruptcy. Don’t rearrange the deck furniture on the Titanic. Instead, realize it may be time to jump ship. You may […]
Do Not Run Up Your Credit Cards Before Bankruptcy
Chapter 7 bankruptcy is an excellent option for those who have accumulated large credit card debts. But if you run up your credit cards before bankruptcy, you may be found to have committed a form of bankruptcy fraud. When you file for bankruptcy, credit card companies carefully review all of your most recent purchases. Do […]
Should I File Bankruptcy?
Bankruptcy is not for everyone, and not a decision to take lightly. Over three quarters of a million Americans will declare bankruptcy in 2017. But how do you know if bankruptcy is right for you? If you find yourself asking, “Should I File Bankruptcy?” then read on. Here are a few questions you should ask […]
Top 10 Myths About Bankruptcy
If you are considering filing bankruptcy, consult with an attorney to help you understand your options. You should not take lightly the choice to file bankruptcy. But you should also not dread bankruptcy for the wrong reasons. Don’t fall prey to fake news. It’s time to dispel a few myths about bankruptcy. Myth 1: You will […]
$1.1M to Settle an $8K Credit Card Debt?
With the Credit CARD Act of 2009, Congress enacted the most sweeping changes in credit card laws in decades. The majority of consumer protections kicked in on February 22, 2010. Now credit card companies are required to divulge how many months it will take to pay off a balance if only minimum payments are made. […]
Top Ten Movies About the Economic Crisis
Understanding how the economy got to where it is today is no easy task. What follows are the top ten movies about the economic crisis. Elizabeth Warren, Harvard Law Professor and whip-smart economic wonk, succinctly summarized the frightening state of our economy following the Great Recession: Tens of millions of once-secure middle class families now […]