Being in debt is understandably an overwhelming financial experience for a person to face. When bills pile up, and creditors start demanding payment, it can feel like there’s no way out. For many people, wage garnishment can add stress and frustration to an already...
When you take out a mortgage, you enter into a binding contract with your lender. Every payment you make is part of that promise. But when payments stop, it is seen as a default. In most cases, the lender responds with foreclosure to recover the property. Not all...
Discharging student loan debt through bankruptcy is not easy, but it may be possible in cases of undue hardship. To evaluate whether a borrower qualifies, courts and loan holders often look at specific financial and personal circumstances. Recent guidance from the...
When a child gets sick or injured, most parents do whatever it takes to get them the care they need. However, urgent or ongoing treatment can lead to high medical bills. If the child doesn’t have full insurance coverage or the care is out of network, costs can quickly...
Many types of debt can leave your finances in tatters, but one of the most common is medical debt. One moment you and your family members are well, and your financial situation is steady, then, out of nothing, something happens that puts you or a loved one in the...
When considering the benefits of bankruptcy, having a solid preparation plan can make all the difference. Working with a seasoned bankruptcy attorney helps you explore all debt relief options and determine whether Chapter 7 or Chapter 13 is your best path forward....
We talked earlier this year about the Biden administration’s plan to remove medical debt from Americans’ credit reports. As we noted, the Consumer Financial Protection Board (CFPB) has been working on a new rule that would implement that change. Currently, the CFPB...
One of the reasons people delay filing for bankruptcy is the impact it has on credit. People generally lose their revolving lines of credit and see their credit scores drop by three points when they initially file. However, those drastic consequences are only...
Debt is challenging financial reality that many people face. Unfortunately, most people assume that poor financial decisions are the primary cause of debt. In reality, life’s unpredictability can often be the real culprit. Certain major life events can lead to...
Medical bills in this country keep rising – and they can financially overwhelm almost anybody. If you’re dealing with an unexpected hospital bill (or one that was just unexpectedly high) there are several things you can do to try to lower or manage the bill. These...
