Recovering from Financial Ruin

Recovering from Financial Ruin

  • Two Ways To Counter A Debt Buyer's Claim That You Owe Them Money

    When people default on their accounts, it's common for creditors to sell those accounts to debt buyers to recoup some of the money they lost. These buyers then take on the responsibility for collecting the debt, which oftentimes includes suing the debtor for the money. If you find yourself having to defend a lawsuit filed by a debt buyer, here are two ways to respond that may help you win the case.

  • 3 Factors To Consider Before Ruling Out Bankruptcy As An Option For Debt Relief

    Filing for bankruptcy is something a lot of people want to avoid, primarily because of the negative effects it can leave; however, using bankruptcy to get relief for your debts might turn out to be the best decision you ever choose. If you are on the fence about this and are trapped with loads of debt, you may want to consider the following three factors before you toss out the idea of filing for bankruptcy.

  • 3 Ways To Repair Your Credit After Chapter 7 Bankruptcy

    When you are so far in debt that you can't really see any way to get out of it, filing for Chapter 7 bankruptcy may be a good option for you. Doing that will allow you to set up a plan that will let you pay back your creditors and start to get out of all that debt. However, filing bankruptcy can also cause you further credit problems. One reason for that is that it can take up to 10 years for a Chapter 7 bankruptcy to come off your credit history.

  • Student Loans: Are There Legal Ways To Get Out Of Debt?

    Drowning in student debt and don't know what to do? Well, first of all, you aren't alone. In fact, there are 40 million Americans who have some level of student loan debt, with the average borrower having four loans. These loans aren't always easy to pay back, especially with everything else that you need to pay on a regular basis. Luckily, there are options available to you that can have your loans partially or fully forgiven, discharged or cancelled:

  • Discharging Alimony During Bankruptcy

    If you are unable to pay your debts, then bankruptcy allows you to discharge them so that you can start a fresh financial journey. As with other legal processes, however, there are exceptions to this rule. There are some debts that you cannot discharge, and alimony (spousal support after divorce) is one of them. Whether you are filing for Chapter 7 or Chapter 13 bankruptcies, you will have to continue servicing your alimony payments.

  • About Me

    Recovering from Financial Ruin

    Several years ago, one of my best friends married the guy of her dreams. This tall, quiet man adored my friend. Almost every week during their courtship, he presented her with a beautiful, fragrant arrangement of flowers. At the time, my friend’s mom joked that her home resembled a funeral home because of all of the flowers her boyfriend sent her. After the happy pair married, they purchased a new home together and quickly began running out of money, meaning that he could no longer afford to give her the flowers she loved. They even discovered they couldn’t afford to pay the monthly mortgage. After only a few years of marriage, they filed for bankruptcy. On this blog, you will discover the ways a reputable bankruptcy attorney can help you successfully recover from financial ruin.