Only used as a last resort. Try the snowball, consolidation and settlement first.

Debt IVA – What is a Debt Individual Voluntary Arrangement?

A Debt Individual Voluntary Arrangement, or Debt IVA, is an alternative to bankruptcy for consumers who are experiencing problems with debt. Debt IVAs are used across the United States as well in other countries. It is a method that allows debtors to who can not make full payments towards their financial obligations to make arrangements […]

Dealing With the Downside of Bankruptcy

For some extreme cases of debt and financial instability, bankruptcy may end up being the only answer to one’s financial struggles. Credit repair is possible after bankruptcy but it certainly is not an easy task to rebound once bankruptcy has been filed. Bankruptcy is not an easy decision to make nor is it one that […]

Dealing With Debt and Unemployment: What Now?

Many unemployed workers are running out of benefits and still do not have a job. Those without steady income are facing even bigger debt issues than they had before and have no idea what to do next. When unemployment benefits run out without any job prospects, it seems there is a slim chance of survival. […]

What You Should Know About Bankruptcy Court

The struggle with debt sometimes takes a turn down a dead-end street and as a last resort bankruptcy must be considered. In years past, people often used bankruptcy as a way to make a ‘clean slate’. In essence, it was an ‘easy’ way out for people with too much financial burdens. Now bankruptcy is a […]

The Bankruptcy Process: Stage 5 – The Do Over

In The Bankruptcy Process: Stage 4 – The Deliberation, we reviewed what your day in court would be like and some time lines for when things will occur. If your bankruptcy has been approved, you’ve officially been granted a “do over” – and this is where things get tough. Credit Report. It will take a […]

The Bankruptcy Process: Stage 4 – The Deliberation

In The Bankruptcy Process:  Stage 3 – The Documentation, we reviewed all that’s involved with the documentation you’ll need, how you’re going to feel emotionally to this point, and the education you’re required to have by the court.  In my experience, that was somewhat of the easy part. The Court Appearance While I can only speak […]

Coming Back from Bankruptcy

Bankruptcy is the last straw for consumers facing monumental debt. Those who must go through the bankruptcy process often feel beaten and confused about the past, the present, and what will happen in the future. Most already know their credit will be ruined for several years and many worry about history repeating itself when all is […]

The Bankruptcy Process: Stage 3 – The Documentation

In The Bankruptcy Process:  Stage 2 – The Determination, we discussed how to find a good lawyer and how he/she would make the determination as to whether you are eligible to even file. At this stage, nothing has gone to the court so it’s not even “official” that you’re in bankruptcy.   Since your first meeting […]

The Bankruptcy Process: Stage 2 – The Determination

In The Bankruptcy Process: Stage 1 – The Decision, we talked about how you would make the decision about which way to move with your financial road. However, even though you have decided that the bankruptcy process is the right path for you, the actual decision is not yours. Finding an Attorney Your next step […]

The Bankruptcy Process: Stage 1 – The Decision

You’ve reached a point where your finances have taken all the hits they can handle.  There is no money tree in the back yard or loan from a relative available to help get you back on your feet.   Plain and simple, you really have to contemplate the bankruptcy process. This is not going to be […]