The Chapter 7 Means Test is an important eligibility requirement for Mississippi residents considering bankruptcy. This test compares your income to the state’s median income for a household of your size to determine if you qualify for Chapter 7 bankruptcy. If your income falls below the median, you automatically pass the means test and are […]
The holiday season is meant to be a joyous time of year. But it can also be incredibly stressful if you are struggling with debt. From the major sales around Thanksgiving to the last-minute deals just before Christmas, it can be tough not to get carried away. In fact, industry experts estimate that Americans spend […]
It’s not surprising that dealing with financial difficulties can be stressful. Whether you are considering filing for bankruptcy or already have, there is more to consider than just the legal aspects of the process. One of the biggest concerns people have is how bankruptcy will impact them emotionally. Here is what you need to know […]
If you’re like many people, your home is one of the most valuable assets you own. Not only does it provide shelter, but it is also an important investment that grows in value over time. If you are in danger of losing your home through foreclosure, you should do everything possible to hold onto it, […]
If you’re concerned that you might lose property through bankruptcy, this is understandable. In some instances, the bankruptcy trustee can take your property to satisfy your debts. However, you can keep some or all of your property by using what are called “exemptions.” Understanding how exemptions work can help eliminate surprises and provide the knowledge […]
Seriously overdue credit card debt has reached its highest levels in over a decade, and Americans ages 35 and under are having a tougher time than other age groups when it comes to paying regular bills. According to APNews, the portion of credit card debt that is severely delinquent, which is debt more than 90 […]
If you’re struggling with debt, the last thing you need is to hear from some unknown company about a debt you didn’t know existed. But this has started happening with greater frequency now that some unscrupulous businesses are “buying” old debts so they can pursue collections. The term for this is “zombie debt,” and the […]
Filing for bankruptcy is a big step, and it’s something that intimidates many people. There’s a common misconception that going through the bankruptcy process will leave you penniless because it will require you to surrender all of your material possessions to satisfy creditors. Depending on the type of bankruptcy you file and where you live, […]
Our country owes every veteran an unrepayable debt of gratitude. Serving in the United States Armed Forces is a brave and noble choice. Unfortunately, veterans may face financial difficulties just like anyone else. If this is your situation, you may be wondering about your options for debt relief, including bankruptcy. Financial Risks Faced by Veterans […]
Medical debt affects nearly everyone, but it can be especially burdensome for those with chronic illnesses that require long-term hospitalization and time away from work. According to the Consumer Financial Protection Bureau (CFPB), Americans had amassed $88 billion in medical debt as of mid-2021, a figure reflected on credit report data. Although most medical debt […]