Articles Posted in Debt Relief

Getting behind in your payments can be a result of several things, job loss, medical bills, unexpected expenses to name a few. If you owe more money then you have assets, you are considered “upside down” in your debt. Even by selling everything you own, you still would not have enough money to pay back…

Due to an increase in consumer debt, the number of debt settlement agencies is on the rise. Debt settlement is a legal way to pay off your creditors at possibly a reduced rate. Many debt settlement firms are legitimate and helpful, but not all are created equal. There are many illegitimate agencies out there looking…

Student Loans have long been a rising challenge for college graduates in the Unites States. The cost of eduction has steadily increased during the last half century. In fact, higher education tuition is one of the fastest increasing costs for young Americans. The rise of small private schools was supposed to offer convenient and affordable…

Whether you are seeking debt discharge through Chapter 7 or Chapter 13 bankruptcy in California, you must complete the debtor education course as a requirement of the US Bankruptcy Code. The debtor education course is intended to teach you fundamental personal finance management skills that you’ll need to be financially successful after bankruptcy. Here is…

Many individuals who visit a bankruptcy law firm in California fear attending court as a step towards filing Chapter 7. The 341 meeting of the creditors is usually the one and only court appearance individuals filing for Chapter 7 bankruptcy must attend. Additionally, the 341-meeting experience is typically a less stressful court appearance than a…

Bankruptcy is a highly efficient form of debt relief that can legally eliminate many of your debts. There are exceptions to this, however, as some types of debts that are not eliminated or “discharged” in bankruptcy. These debts include family obligations, student loans, and debts incurred from court fines or personal injury cases resulting from…

Bankruptcy attorneys in Sacramento, CA often get asked about the differences between debt consolidation and bankruptcy and which one causes more damage to your credit. A Chapter 7 bankruptcy will remain on your credit for 10 years, and so it does have the potential to affect your credit score significantly. Oppositely, debt consolidation may affect…

Because a Chapter 13 bankruptcy typically lasts 3-5 years, the chapter 13 bankruptcy trustee plays a crucial role in your bankruptcy proceedings. In a Chapter 13 bankruptcy, you will create a repayment plan that ensures all your secured, priority, and some if any unsecured debts are paid in the form of a monthly payment. Upon…

When one files for bankruptcy their debts are divided into three main classifications to determine what they will have to pay back and what will be wiped out. The three classifications of debts are secured, unsecured, and priority. Priority debts or priority claims are special types of unsecured debts, meaning they aren’t backed by any…

A recent survey by CareerBuilder showed that over 75% of households in America are living paycheck-to-paycheck. This issue, exacerbated by overspending, is potentially dangerous especially without an emergency savings account or line of credit. The report highlights an overreaching problem for Americans that we spend everything we earn and then more through going into debt.…