One of the requirements in the process of debt relief through bankruptcy is to take two financial education courses. Before filing bankruptcy, you must take a pre-filing credit course called a credit counseling course. Before receiving a debt discharge, you must complete a debtor education course. Class In Session A credit counseling course is a…
Continue reading ›Many Americans struggle with high levels of medical debt. Medical debt and costly medical bills are one of the top reasons for filing for bankruptcy in the United States. Approximately 60 percent of personal bankruptcies are caused by unmanageable medical bills. Unfortunately, millions of people will face financial hardship over the costs of accessing care…
Continue reading ›If you have ever experienced problems with debt or are currently seeking debt relief, you may have heard of credit counseling. Credit counseling is a low cost service provided to you by a non-profit or government agency to help understand some of the options for getting out of debt. Credit counseling companies can help you…
Continue reading ›A debt discharge in bankruptcy will free you from the liability over the debt going forward. There are certain types of debt that are not eligible for a debt discharge in bankruptcy unless the debt is resolved, such as recent federal taxes, some student loans, and secured debts where the collateral is not being surrendered.…
Continue reading ›Many people have questions about how the debt discharge works in bankruptcy. A debt discharge is the ruling of the court declaring your debt ineligible for collection and discharged from your liability of payment. In other words, when a debt has been discharged you are no long legally liable for repaying the debt. However, there…
Continue reading ›A common bankruptcy myth is that filing bankruptcy will ruin your credit for the future. The truth is, most people find their credit improves following a bankruptcy. While a bankruptcy will be recorded on your credit score for up to ten years, it is not the end of the road for obtaining credit. You can…
Continue reading ›Having debt is not always a bad thing. In fact, a high credit score is often the result of debt. However, debt can quickly go from helping your credit profile to hurting it when debt begins to outweigh income. Further, the type of debt you carry may have a significant impact on your credit profile.…
Continue reading ›Many people are facing growing medical debt burdens and the risk of losing their homes or property as a result. While some people may seek debt relief through a settlement or consolidation loan, filing for bankruptcy may be more beneficial. There are several reasons bankruptcy may be the best choice for medical debt relief. Bankruptcy…
Continue reading ›If you’re facing trouble paying your utilities, your options may be limited. While you might qualify for a payment plan or loan with your utility company; that option is often counterproductive when they add in the interest rates to an already delinquent balance. You could also ask a friend or family member to help you…
Continue reading ›Over the last decade, healthcare legislation reforms have focused on lowering the burden many face as the result of medical costs. However, research shows that medical debts and expensive medical bills are one of the leading causes of bankruptcy filings in the United States. In fact, numerous studies have shown that over 60 percent of…
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