A person who is drowning in debt may make the mistake of ignoring his or her creditors. A common misconception is that ignoring a debt will make it go away or help it become more manageable. In reality, pretending a debt does not exist only makes creditors more aggressive, and when it becomes clear that… [Continue Reading]
The Best Way for a Creditor to Collect a Debt
Creditors would generally prefer to be able to collect a debt from a debtor simply by sending the debtor a bill and receiving immediate or gradual payment from the debtor. Unfortunately, not all debtors pay their bills on time, and some do not pay the debt at all. When a debtor defaults on a debt,… [Continue Reading]
Filing for Chapter 7 Bankruptcy After Divorce
Divorces can be expensive in many ways, and for some people, being stuck with all the marital debt or a large portion of it can mean that filing for bankruptcy is inevitable. Filing for bankruptcy after a divorce does not always mean that a person’s obligation to pay off all debt is cancelled. Depending on the steps… [Continue Reading]
Things to Keep in Mind When it Comes to Debt Settlement
It is easy for debt to snowball if you suffer a major financial setback, such as losing a job or being diagnosed with a major illness. Most people in these situations consider filing for bankruptcy in order to get rid of the debt and get a fresh start. However, bankruptcy is not appropriate in every… [Continue Reading]
