Why might filing for bankruptcy be a good health move?
Belleville Bankruptcy And Social Security Blog
by robert.reidell@thomsonreuters.com
11h ago
What many people fail to appreciate about debt problems is just how much they can affect other areas of your life. For example, a friend might complain that you are no fun on nights out anymore. They might not realize that it is because you cannot really afford to buy the drinks and food you are consuming. However long you have known them, you might still feel ashamed to reveal the truth – that you are in more debt than you can handle. Perhaps you and your spouse have been arguing about things a lot more than you used to. This could be cause by the financial strains you are both under. You eac ..read more
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Using bankruptcy to break the vicious cycle of payday loans
Belleville Bankruptcy And Social Security Blog
by robert.reidell@thomsonreuters.com
11h ago
Are you caught up in the vicious cycle of payday loans? You’re not alone. According to a report by Bankrate, twelve million Americans use payday loans annually. For most people struggling to meet their needs, payday loans become necessary to pay bills and support their families. Moreover, no credit is needed; you only need a job and a checking account. Payday loans might seem like an excellent option to solve your financial problems. However, instead of helping you gain control of your finances, they make it more complicated to make timely bill payments due to the high-interest rates. In addit ..read more
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Will you lose everything by filing for bankruptcy?
Belleville Bankruptcy And Social Security Blog
by robert.reidell@thomsonreuters.com
11h ago
Many people struggle to pay off credit card debt and, as a result, fail to pay off late fees and interest, all of which can make it even harder. Some people don’t intentionally take on debt, but, instead, suffer from a health condition or accident that results in tons of medical debt. And, when it comes to a loan or mortgage, debtors may unexpectedly lose their income or build up other forms of debt People can, in response to their overwhelming debt, seek out a bankruptcy claim, which can wipe away some or all of their debt. However, as you may know, bankruptcy does have its drawbacks and does ..read more
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3 things to know about Social Security Disability Insurance
Belleville Bankruptcy And Social Security Blog
by robert.reidell@thomsonreuters.com
11h ago
People who aren’t able to work because of a disabling medical condition or injury need a way to pay their bills. For individuals who have earned enough work credits, the answer might be Social Security Disability Insurance. You need to know several things if you’re applying for SSDI. These might help you to figure out what you need to do and how to proceed with the application. #1: Some applications are fast-tracked People with certain medical conditions on the Compassionate Allowances list will have their applications fast-tracked. The conditions on this list are so severe that the disability ..read more
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Chapter 7 vs. Chapter 13: Which bankruptcy should you file?
Belleville Bankruptcy And Social Security Blog
by msmithcontentcustoms
3w ago
You are lying on your bed staring at your due bills and collection notices and wondering how things will work out. Perhaps, you have recently suffered a significant health issue that has left you with a huge medical bill, or you have lost your job and are wondering what will become of your mortgage and other debts. At your lowest moment, bankruptcy crosses your mind. Sometimes, your financial situation might be so grim that bankruptcy becomes your only way out. However, the decision to declare bankruptcy is one that you should never take lightly. One of the most important decisions you need to ..read more
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How can you get creditors to stop calling you at work? 
Belleville Bankruptcy And Social Security Blog
by robert.reidell@thomsonreuters.com
1M ago
If you’ve got creditors calling you at all hours of the day, including while you’re at work, it can be incredibly stressful. When you can’t pay them the money that they’re asking for, it sometimes feels like the only choice you have is to try and ignore them. When creditors start calling you while you’re trying to work, it can be the last straw. The last thing you want is for your colleagues to answer the calls and face the embarrassment of them knowing your personal affairs. Is there anything you can do to stop them from contacting you at work? Are debt collectors allowed to contact you at wo ..read more
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Social Security recipients will receive 8.7% bump in benefits
Belleville Bankruptcy And Social Security Blog
by robert.reidell@thomsonreuters.com
1M ago
People who receive benefits from Social Security Administration (SSA) programs will see a significant increase by the first of the year. That 8.7% cost-of-living boost is a long time coming and marks the largest increase since 1981. This group not only includes recipients of Social Security and Supplemental Security Income (SSI), but also the more than 7.7 million disabled workers who receive Social Security disability (SSD) benefits because they no longer can work due to a medical ailment or condition. Disabled, workers, spouses and children benefit On Oct. 13, the SSA announced the 8.7% cost ..read more
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How often can you declare bankruptcy?
Belleville Bankruptcy And Social Security Blog
by robert.reidell@thomsonreuters.com
3M ago
Getting into serious debt or financial emergencies can happen more than once during your lifetime. And while you can always rebuild your credit and get back on your feet after bankruptcy, there are times when you might have to go bankrupt again. If you are contemplating declaring bankruptcy for the second time, you might be wondering how many times you can do this. So how frequently can you go bankrupt? You can declare bankruptcy multiple times. However, there are limits to the frequency with which you can file. If you have recently used bankruptcy to discharge your debts, there is a waiting p ..read more
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What contributes to the most bankruptcy cases?
Belleville Bankruptcy And Social Security Blog
by robert.reidell@thomsonreuters.com
3M ago
Bankruptcy can happen for many different reasons. Some people simply spend too much money. Others find themselves facing unexpected bills. Others struggle with things like student loans or other types of long-term debt. Life is complicated, and financial complications are often unexpected. But you may be wondering what some of the top causes are. If you’re going to end up using bankruptcy, what is most likely to contribute? Below are two examples. Medical bills One study claimed that medical expenses showed up on about 59% of all bankruptcy filings. They were considered a major factor in these ..read more
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What you should know about Chapter 7 and Chapter 13 bankruptcy
Belleville Bankruptcy And Social Security Blog
by robert.reidell@thomsonreuters.com
3M ago
Debt is easy to accumulate. Some debt may be caused by unexpected medical bills, late loan payments or sudden car repairs. What do you do with all that debt if you’re struggling to pay it off? Bankruptcy can help people when their debt becomes too much to handle. The two most common choices of bankruptcy are Chapter 7 and Chapter 13. Here’s what you should know: Liquidation bankruptcy Chapter 7 bankruptcy is also referred to as “liquidation bankruptcy.” Liquidation bankruptcy helps pay off some or all debt by liquidating assets, but not everything you own. Many assets, like a summer home, car ..read more
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