Paying rent is, unfortunately, a part of life. Finding apartments that accept bankruptcies can be difficult, especially as you’re trying to rebuild your credit. This task is not impossible, but it may feel that way at times.

Credit cards are the most common example of revolving debt. As a child or teen, credit cards seem like a source of free money with absolutely no strings attached. This can’t be further from the truth. If you’re constantly living outside your means and charging your card, you’ll very quickly find yourself in a dire financial situation.

If you’re drowning in credit card debt, debt from medical bills, or if you have any other unsecured debts, then filing bankruptcy can help relieve some of the stress. However, if you’re also living on a fixed income that’s funded from Social Security benefits, you may be thinking about Chapter 7 and social security income.

Bankruptcy can be a reset button for many families, but the process isn’t as easy as pressing a button. Bankruptcy courts have strict rules and regulations that you have to follow when it comes to filing for bankruptcy. Following these rules can mean the bankruptcy court grants a discharge. If these rules are violated, the case can end in a dismissal. Bankruptcy terminology can be very confusing, especially for first-time filers or people exploring their options.

Financial management is a life skill that can’t be overstated. Poor financial management mixed with unexpected tragedies can leave you with a mountain of debt that keeps piling up. In this blog, we’ll talk about some common mistakes that can lead to bankruptcy and how to avoid them. We’ll also talk about how filing for bankruptcy isn’t always a bad idea.

Buying a car is a big decision to make. Reliable transportation can expand your education and employment opportunities. Transportation can also give you the freedom you need to pursue the life you want to live. The average cost of a vehicle at the end of 2021 was over $47,000. Used cars cost an average of just over $28,200. Very few people have this amount of cash on hand, so most people use an auto loan to pay for vehicles.

If you feel like you’re drowning in credit card debt, you’re certainly not alone. In the last quarter of 2020, Americans shared a grand total of $820 billion in credit card debt. Additionally, the average American has at least $5,000 in credit card debt. These are huge, scary numbers. The good news is that there are plenty of debt relief options out there: credit card refinancing vs. debt consolidation. Refinancing credit card debt involves moving all your debt from one card to a 0% interest rate balance

In August 2022, President Biden announced student loan forgiveness for millions of low and middle income borrowers who are facing significant financial hardship. Additionally, Biden announced a plan to address the widespread student debt crisis in the United States. Even still, many Americans don’t qualify for relief or will have thousands of dollars left in student loan payments.

Maybe you just wrapped up a bankruptcy case and your bankruptcy discharge isn’t what you hoped it would be or you didn’t receive a discharge at all. You may be wondering: how often can you file bankruptcy? Can you even file for bankruptcy more than once?

Did you know that if you continuously fail to pay your debts, your creditors can sue you, get a judgment against you, and then begin debt collection efforts? In some states, a money judgment can last up to 20 years. In that time frame, creditors can renew the judgment several times until you pay off your debt.