Debt

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8 Tips for Fixing Your Credit Rating Following Bankruptcy – Part 2

2018-05-25T15:29:42+00:00

In Part 1 of this series on tips for fixing your credit rating after a bankruptcy, we talked about the first steps to take to get your financial affairs back in order. Building your credit back up, as we discussed, involved gathering your credit reports, disputing negative comments and errors on your credit reports, and using kindness to your advantage to try and get negative credit report remarks removed, and jumping back into using credit cards. If you’ve taken the initiative and you’ve done the first four steps, chances are your credit score has gone up. Now, let’s take a look [...]

8 Tips for Fixing Your Credit Rating Following Bankruptcy – Part 2 2018-05-25T15:29:42+00:00

8 Tips for Fixing Your Credit Rating Following Bankruptcy – Part 1

2018-05-25T15:40:54+00:00

So, upon the advice of your legal advisors, family, or friends, you wiped the slate clean and filed bankruptcy. Now, you are wondering what to do next after the dust has settled on your financial life. Maybe you’re young and you made some mistakes, or you made some bad business decision, but now you plan to come back stronger than ever. There good news – you can put a bankruptcy behind you. You can even heal your aching credit score, so that someday you’ll be able to buy the house you always wanted or expand your business with a loan. Fixing [...]

8 Tips for Fixing Your Credit Rating Following Bankruptcy – Part 1 2018-05-25T15:40:54+00:00

6 Strategies to Avoid/Limit Debt & Save Your Credit

2018-02-15T17:00:14+00:00

Like it or not, accumulating debt has become an American tradition. Just look at our government, which is about $20 trillion in debt. Individually or jointly (married), we’re not much better, seeing as 80 percent of Americans are reportedly in debt with an average debt burden of $67,900 hanging over our heads, according to a 2015 report by Pew Charitable Trusts report.1 There is a slight bright side to these figures, because 44 percent of those in debt are there because they are carrying a home mortgage, which helps consumers build equity and financial value. Getting ahead and buying a [...]

6 Strategies to Avoid/Limit Debt & Save Your Credit 2018-02-15T17:00:14+00:00

6 Money Mistakes that Can Lead to Bankruptcy

2018-02-15T17:12:10+00:00

Serious debt issues can arise when finances are mismanaged. Although there can be a lot of factors that contribute to people’s financial decisions and possibly their debt, however, the following are some of the most common and costly money mistakes that can exacerbate any financial situation – and that may trigger: Rapidly snowballing debt The need to file for bankruptcy in the future in order to get a financial fresh start. Avoid Making these Money Mistakes Being misled by common spending traps – Spending traps refer to offers that may seem like “deals” but that actually incentivize you to spend [...]

6 Money Mistakes that Can Lead to Bankruptcy 2018-02-15T17:12:10+00:00

Your Rights & the FDCPA: When to Report Abusive Debt Collection Practices to the FTC

2018-02-15T17:39:28+00:00

When debt gets out of control and people have problems making their payments on time, creditors and debt collectors will usually reach out to consumers, trying to get them to resume payments. Just how and when this contact is made, however, is governed by the Fair Debt Collection Practices Act (FDCPA), a federal statute that specifically prohibits a number of “abusive” debt collection practices. Knowing your rights under the FDCPA – and what constitutes illegal and abusive debt collection practices – is important to protecting yourself and knowing when to fight back and report the violators to the Federal Trade [...]

Your Rights & the FDCPA: When to Report Abusive Debt Collection Practices to the FTC 2018-02-15T17:39:28+00:00

When Is It Better to Save Money versus Pay Down Debt?

2018-02-15T17:15:13+00:00

Tax season is upon us. And for those who are expecting to receive a refund (or any chunk of money – like an inheritance or bonus, regardless of the season), figuring out whether to use that money to build up a savings account versus pay down (or off) debt can be tricky – especially if they want to take the most advantage of this extra money. If you are contemplating this issue with any significant chunk of money, below are some of the most important factors to consider in order to help you determine whether to save your money or [...]

When Is It Better to Save Money versus Pay Down Debt? 2018-02-15T17:15:13+00:00

4 Essential Facts to Know for the FTC’s National Consumer Protection Week

2018-02-15T17:56:42+00:00

From March 6th through 12th, officials with the Federal Trade Commission (FTC) are sponsoring National Consumer Protection Week (NCPW), a period focused on encouraging “consumers nationwide to take full advantage of their consumer rights and make better-informed decisions.” Backed by dozens of local organizations across the U.S., NCPW is aimed at empowering consumers to protect their rights and their hard-earned money, providing them with the tools and information they may need to fight back against scams, identity theft and other illegal or abusive practices. To support this effort, below, we have pointed out some of the most important facts to [...]

4 Essential Facts to Know for the FTC’s National Consumer Protection Week 2018-02-15T17:56:42+00:00

Can I Get Rid of Student Loan Debt via Colorado Bankruptcy?

2018-02-15T17:57:52+00:00

No, bankruptcy will not eliminate student loan debt. However, you can get rid of a lot of other types of debt via Colorado bankruptcy, and that may free up funds to pay down or to pay off your student loans. Additionally, you may qualify for student loan forgiveness or other options, which could help you pull yourself out of debt and get the financial fresh start you need and deserve. We’ll explain this in more detail below… Debts that Are Dischargeable via Colorado Bankruptcy Although student loan debts are not dischargeable via Colorado bankruptcy cases, debts that can be eliminated [...]

Can I Get Rid of Student Loan Debt via Colorado Bankruptcy? 2018-02-15T17:57:52+00:00

Why You Shouldn’t Ignore Debt Problems

2018-02-15T18:00:14+00:00

Managing debt is a part of many people’s lives. When that debt gets out of control and starts to become unmanageable, it may be enticing to try to ignore the issue, blindly hoping it will go away or resolve itself. The fact is, however, that debt does not just disappear. And ignoring it or pretending it doesn’t exist can come back to haunt you in a big way. What Happens When Debts Are Ignored The reason that ignoring debt issues can be so problematic is that it can give creditors or debt collectors the opportunity to move forward with more [...]

Why You Shouldn’t Ignore Debt Problems 2018-02-15T18:00:14+00:00

What Creditors Can – and Cannot – Repossess

2018-02-15T18:08:59+00:00

Repossessing assets is one method creditors and debt collectors may use to try to compel borrowers to repay their debt – or to try to recoup on defaulted debt when repayment seems unlikely. When it comes to repossession, however, there are specific rules regarding what can and cannot be repossessed. Understanding the difference can be essential to protecting yourself and your assets – and to knowing when it may be time to take stronger action to stop repossession from happening. Items That Can Typically Be Repossessed Homes – Homes are typically purchased via secured mortgage loans. This means that, in [...]

What Creditors Can – and Cannot – Repossess 2018-02-15T18:08:59+00:00