In today’s volatile financial times, many people face insurmountable debt. Mortgages and credit card payments are so high that it is a challenge for many people to even cover the interest that is accruing. Fortunately, the bankruptcy code of the United States provides several options for people who are struggling. One of the methods available to people is to file under Chapter 7.
This type of bankruptcy eliminates unsecured debts like credit cards, medical bills, and some personal loans. These are all called unsecured because they do not have any collateral assigned to them. For example you will not have to forfeit your house or your car if you were to default on these.
By filing Chapter 7, you protect things like your home, your car, and your earnings from your job by protecting them from your creditors. It is also sometimes used to prevent foreclosure. I Full article…
20 Dec
Posted by Kayla Dullo as Credit Repair
We’re struggling to scrape together the funds to pay the mortgage, buy groceries and put gas in our tank – so why are so many of us spending money on exercise machines, household cleaners and Snuggies?
Chalk it up to the infomercial phenomenon, say Chicago bankruptcy attorneys. Sales of “As Seen On TV” products are skyrocketing just as families are cutting back everywhere else. Why? Maybe because the products are pitched as a way to buy happiness. You might not be able to afford a nice vacation or new clothes, but for three small payments of $14.95, according to infomercial hosts, you can get rock-hard abs.
Thanks to the economy, it’s cheaper than ever for advertisers to buy commercial slots. With many of us working fewer hours and spending more time at home to save money, we’ve got more time to watch TV. And that’s leading to more impulse infomercial buys.
Never mind that deep down, we all know you can’t get a brand new physique by applying electric shock to your waistline for five minutes a day or lose 50 pounds by taking some diet pill.
Although taking up an auto loan to finance the purchase of a car when one does not have the funds to finance the purchase of a car has a lot of advantage, the risks and challenges that comes with taking up an auto loan is something that one should be concerned about.
When it comes to taking up auto loan, the reasons why one should not take up auto loans, is actually more than the reasons why one should take up auto loans. Frankly speaking, besides the funds that you are financed with when you take up an auto loan, an individual who decides to take up an auto loan actually has nothing more to benefit from taking up an auto loan.
As an individual, there are several reasons why you should not take up an auto loan to finance the purchase of a car. For an individual who has bad credit, it is recommended that you should not take up an auto loan because by virtue of the fact that you have bad credits, you are not qualified to take up an auto.
18 Dec
Posted by Mikayla Montford as Bankruptcy
For those of you waiting until after the Holidays to file your bankruptcy case, heed my advice. Here are my tips and pitfalls to avoid now, if you’re planning a New Year fresh start.