Bankruptcy 101 – Pros and Cons

Subscribe To Our Blog

Over the past decade, filing for bankruptcy has become far less taboo – good, bad or indifferent it’s become far more mainstream for both businesses and individuals. 

For individuals, there are 2 types of Bankruptcy – Chapter 7 and Chapter 13. With Chapter 7 you must have an insufficient income to allow you to pay at least a portion of your debts. Under Chapter 7, you either pay for or give up your property for secured debts. You surrender any nonexempt property in order to pay off as much of your other debt as possible. You keep all of your other exempt property and are forever released from any obligation to repay the remaining dischargeable debt.

Continue reading “Bankruptcy 101 – Pros and Cons”

Overwhelmed with Debt? 6 Steps to Get You Headed in the Right Direction

Subscribe To Our Blog

The presents have been opened and put away, the tree and holiday decorations have been taken down or will be shortly, and the credit card bills start rolling in – UGH! No one wants to start the New Year off in a pile of debt, but it’s a pretty easy trap to fall into and it can be paralyzing! Continue reading “Overwhelmed with Debt? 6 Steps to Get You Headed in the Right Direction”

Millennials – here’s how to handle debt the right way!

More than any generation before them, millennials have grown up in a world built on credit and borrowing.  For many of them, debt has become a way of life.  And for many, especially those who financed an education with credit, they may already find themselves carrying a significant amount of long-term debt and are having difficulty dealing with it.  Understanding how to handle this debt will be an important, if not essential, part of how they fare in the coming years.  So here are some general rules to follow for millennials hoping to better manage their debt.

Continue reading “Millennials – here’s how to handle debt the right way!”