Although bankruptcy can give you a fresh financial start, it’s important to understand what types of debt you can and cannot discharge. Filing for Chapter 7 bankruptcy can help you regain your financial footing as long as most or all of your debt is dischargeable. Some examples of dischargeable debt are: Credit Card Debt Credit card
Chapter 7 bankruptcy, also called “straight bankruptcy,” is the most common type of bankruptcy proceeding because it allows you to discharge most debts, meaning that you are no longer responsible for paying them off. Filing for Chapter 7 bankruptcy is often the fastest way to get out from under a debt you can’t to pay. However not
Bankruptcy, credit, budgeting, debt collection and taxes are just a few of the topics we discuss at Money Go Roundtable. There are now 19 episodes of Money Go Roundtable up and released through iTunes. What started out as a six episode experiment with Consumer Attorney Jay Fleischman has now blossomed into a full-fledged podcast series.
April 15th is rapidly approaching and we all know what that means – that’s right tax return deadlines. Maybe you have already filed your tax return with the IRS and your state (assuming you have a astate income tax). Maybe you are trying to decide whether or not to file because you know you will owe
The results of a recent study released by Professors Robert Lawless and Jennifer K. Robbennolt of the University of Illinois Law School seems to suggest that people who file for bankruptcy would fare greater chance of success if they would apologize for getting into debt. Really? I mean really. What this study suggest is wrong on
So it’s tax season time again. After the end of January, everyone gets their tax papers and receipts together and attempts to get their tax refunds. And so also, anyone who has defaulted in any debt in the last year needs to watch out for some traps. The first is the concept of ‘charge-off‘. Street knowledge
When you are in financial stress, it is hard to think of anything but dealing with the problem at hand. Human nature is to deal with the present before dealing with the future. After all tomorrow never comes, right? This is precisely when you should be thinking about the future most of all. By dealing only
Last week, we covered the balance sheet – the net of your assets and liabilities. The next step of knowing where you are befoe you can fulfill a New Year’s Resolution is to know what your spending looks like. In fact, budget is not an accurate word, at least not yet. More importantly, is knowing
It’s New Year’s Resolution time and what better way to start your budget than to figure out where you are? Every good resolution requires knowing where your starting point is. So in the in the next few posts, we are going to analyze your finances, determine a good budget and make a plan to deal with
Welcome back. It’s been a long time and hopefully not so long again before more posts on this site. I am happy to announce that Jay Fleischman and I have started a new podcast project at Money Go Roundtable. You can listen online or subscribe via iTunes to play on your i-device at your convenience.