Not being able to pay your bills is a tragic situation, but you do have options. When you have credit accounts that you can't make the minimum payments on, you might need to consider finding relief from the money troubles. One of the plausible options that you have is to file for bankruptcy. We can help you learn about the process so that you can embark on it with a good understanding.
Just to be clear -- filing for bankruptcy isn't an easy way out. It isn't an instant solution to your problems. The only thing that is quick about it is that an automatic stay is issued when you file. This prevents creditors from being able to contact you with demands for payments. This can help you relax some since you won't have to worry about answering the phone or checking the mail.
Before you file, you will have to go through an education program. Part of this is credit counseling that will help you discover if you have any alternatives to bankruptcy. It also lets the court know whether you do need to file or not because of the ability of the counselor to look for other solutions.
Once you file, you will still have to do more work. On top of the normal hearings about your bankruptcy, you will also have to go through another education program. This one is a bit different from the first and is meant to help you budget your money and learn how to use credit wisely.
We understand that this a hard spot to be in. We can help you find ways to alleviate the debts that are crushing you.
Many people who are facing drug charges worry about what life will be like in prison. Some of them assume that they will head straight there upon conviction. This isn't always the case. It is possible that some people who are facing less serious drug charges, such as possession charges, might be eligible for drug court.
The drug court program is one that was started in Florida in 1989. The purpose of this program is to allow people who have a problem with addiction to get the treatment that they need to overcome the addiction so they won't need the drugs in the future.
There are many different facets to the drug court program. From a punishment aspect, there are many requirements that the person will have to follow. These include things like keeping out of trouble, passing frequent and random drug tests and holding a job. These can all work together to help put the person on the right track when he or she is out of drug court.
When you go through drug court, you will have access to some of the tools that can help you to live sober. Inpatient treatment options and community support groups are two that might be used. If you have to go through these, you will be told how often you need to do them. This is to help you remain accountable even on the days when you don't go to see your supervision officer.
Not everyone who has a drug charge will qualify for drug court. If you are considering this option, you need to make sure that you know the qualifications and find out if you meet them.
Debt has not always been a major part of the American identity, but in 2017, it certainly was. American's total credit card debt grew substantially in 2017, reaching $931 billion, estimates confirm. That's around 7 percent higher than in previous years.
Households carrying debt tend to have around $15,983 in debt on credit cards, while homes with mortgages and other debts usually have an average of $133,568. It's an unfortunate truth, but spending has outpaced increases in income in many different sectors, making it harder to live comfortably on less.
The good news is that household income growth is starting to catch up. Much of the growth in credit debt is also attributed to unnecessary spending, a habit that Americans could cut back on if they suddenly found themselves needing to pay down their balances.
On credit cards, the average owed in an household is $15,983 and $931 billion on average for the nation. Mortgages are $178,037 on average accounting for $8.88 trillion in debt nationwide. Overall, the United States consumers have around $13.15 trillion in debt, with auto loans, student loans and mortgages making up the most of them.
The median annual income has risen by around 20 percent in the last decade, which is good news when you consider the 18 percent increase in the total cost of living. Medical care, food and housing have grown faster than income, though, making it harder to obtain these items at the same wages as in the past. This is something that needs to be addressed, especially with some Americans finding themselves struggling with debt.
The summer months are filled with outdoor activities like bonfires and boat rides. Adults who are participating in these activities might have alcohol while they are doing them. It is imperative that anyone who is planning on doing this has a plan for making it home after the event so that they aren't tempted to drive home after drinking.
We realize that there are sometimes unexpected circumstances in your life that might lead to some unfortunate events. If you happen to be stopped for drunk driving, you need to turn your attention away from the temptation to feel sorry for yourself and look toward determining how you are going to protect yourself.
Drunk driving cases come with a few different things to think about. One of these is that you will have to worry about the administrative penalties, such as a driver's license suspension, that you are facing. These have very strict time limits that apply if you are going to fight them through an appeal or a hearing.
Another thing to think about is the criminal case. This can involve a trial. You might have to deal with time in jail and fines. Some drunk driving cases come with mandatory education requirements or the possibility of having to use an ignition interlock before you are able to drive again.
We know that you might have some questions about what is possible at each step of the process. We are here to help you sort through it all so that you have the information you need to make decisions about what you want to do.
There are a lot of considerations that you have when you are thinking of filing a Chapter 13 bankruptcy. Some of those that you need to think about revolve around what your life will be like once you file. It is likely going to change dramatically.
One of the biggest changes is that you won't have to worry about the debts any longer as long as they are covered by the bankruptcy. This means you can answer the phone and check the mail without having to worry about a creditor trying to collect the debt.
With a Chapter 13, you will still have to take care of some debts. For example, if you plan to keep the house and the car, you will need to make payments on those. Other debts like student loans will also have to be taken care of.
You will have to make payments to the bankruptcy trustee. These are then divided among the creditors you have that are covered in the bankruptcy. Because these payments are based on your income and allowable expenses, you will be on a very tight budget for the duration of the bankruptcy.
While your case is open, you will likely have to rely only on your income to make ends meet. You can't open new lines of credit unless you have the approval of the court. Since Chapter 13 bankruptcies involve three to five years of payments, you should be prepared to be budget-minded throughout the process. It can be hard to stay motivated, so make sure you are finding ways to keep your focus during this time.
If you may have to enter into bankruptcy, you'll want to know exactly what's going to happen. A personal bankruptcy may seem like it's going to ruin you, but the reality is that it could be beneficial. Personal bankruptcy helps you get out of debt without paying everything you owe, focusing on liquidating your assets while excluding assets that fall into special categories. The goal of the bankruptcy isn't to ruin your life; it's to help you get back on track.
Bankruptcy isn't the only way to get out of debt, but it's a good choice in a few situations. For example, if you have attempted to negotiate your debts and have no way of increasing your income, bankruptcy might be a good option moving forward. Likewise, if you've already damaged your credit, then bankruptcy isn't likely to do much more to hurt it.
You have two options when it comes to bankruptcy, liquidation and reorganization. With Chapter 7, you liquify your assets to pay back what you owe. With Chapter 13, you make payments for three to five years and have the remaining debts forgiven. Bankruptcy doesn't eliminate tax debts, student loans or certain other secured debts, so keep that in mind if you plan to file. Chapter 13 bankruptcy is deleted from your record seven years after you file, while Chapter 7 stays on your record for 10 years.
Bankruptcy could be the right option for you. Look into the possibilities before you decide, so you know that this is the right choice. With so many ways to get out of debt, bankruptcy is just one possibility.
When you need medical care, you might not think about the financial aspect of that care. Instead, you might be focused on just getting the help that you need. The monetary aspect may not hit you until the bills start rolling in. At that point, you might realize that you are in more debt than you can handle. We understand that this is a distressing situation for you. We are here to help you find a way to handle this debt.
You might not realize it, but medical debt is one of the top reasons for people to file bankruptcy. We don't want you to feel ashamed that you are considering this option. You didn't choose to get sick, but you did. In many cases, filing for bankruptcy can help you regain control of your finances so you can move forward with your life.
You might be shocked to know that even people who have medical insurance can be overwhelmed with medical debt. Co-payments, deductibles and uninsured medical expenses can all cause problems with your finances. In some cases, you will have to pick and choose what bills are going to get paid, which is a difficult situation for anyone.
When you decide that you can't live with the medical debt any longer, we can help you to determine which type of bankruptcy is the one for your case. Typically, individuals and couples will either file for Chapter 7 or 13 protection. The differences between these are considerable so we need to evaluate your case and discuss the possibilities with you.
The United States is in the middle of some of the most dangerous days for teens on the roads. When you look at the 10 deadliest days of the year for teenagers, you will find that nine of them occur between May and August. This fact has left this period known as the 100 deadliest days for teens.
The fact that these days coincide with summer vacation for students isn't a coincidence. During these summer months, students lead more lax lives. They don't have the rigid school schedule holding them down. This is also a time when more young people experiment with alcohol.
On top of the increase in alcohol consumption, these months are also a time when there are more people on the roads. This is a deadly combination, but all drivers can help to improve the safety of everyone on the roads by simply not driving if they have been drinking alcohol.
Staying off the roads when you have been drinking can help with more than just safety. It can also assist you in avoiding criminal charges. Drinking and driving is a serious criminal matter. You can face time in prison, high fines and other penalties if you are convicted. You can even lose your driver's license because of drunk driving.
If you do end up facing a drunk driving charge, you need to meet it head on. You have to worry about the criminal justice process, but you also have to go through the administrative process. There are strict time limits that apply to these cases, so putting off facing what is going on isn't ever a good idea.
Imagine how you would feel if you applied for Medicaid thinking you were going to receive coverage for the medical needs you had in the last three months. Now, imagine how you would feel if that coverage was taken away by those who believe you don't deserve it.
You'd likely be like many families in Arizona who could end up with thousands in unexpected medical debt with little to no way to pay it off. Medicaid in Arizona currently pays off medical bills for any new members who have them from the three months before the date of acceptance. A new proposal aims to limit the time by waiving it. Essentially, no one would have coverage for any time when they were ill before approval. The surprising fact is that you already have to worry about this in Arkansas.
Along with Arkansas, several other states have already had their requests to waive the 90-day period approved by the federal government. The problem is that this hurts lower-income families. It saves the states money, but the reality is that the three-month buffer is a necessity for low-income individuals who aren't aware of their eligibility for Medicaid at the time of treatment. This change, now affecting you in Arkansas and potentially in other states, only really changes how the medical provider gets paid.
Medicaid in the United States is facing a struggle, but changes like the above only hurt the population and place it in debt. If you're struggling with medical debt, you're not alone. With more support being cut off, you may need to look into other ways of paying off or eliminating your debt.
Many different things will happen when you file for bankruptcy. One of the things that you might not expect is that you will get your life back. Debt collectors have a way of contacting people just enough to be bothersome while staying just shy of harassing you. This is maddening, but bankruptcy can put a stop to this.
When we get your case filed, an automatic stay is put into place. This means that creditors can't contact you in any form as long as the debt is still in the bankruptcy. While it is possible for some collectors to get the stay lifted, there are very strict criteria for this to occur.
We understand that you want all the protections possible with your filing. The automatic stay is an important one because you can answer the phone and check the mail without having to worry that a debt collector is going to demand a payment.
You can't base your decision to file for bankruptcy solely on the automatic stay. Instead, you should base it on what you learn when you weigh the possibility of bankruptcy against trying to work hard and pay off the debts on your own.
Typically, it is best if you file for bankruptcy sooner rather than later. Not only can this help your mental health state since you don't have to worry about drowning in debt, it can also help you enjoy the freedom that comes after you file bankruptcy. We can help you get the process started so that you can enjoy the benefits that come with filing.
Read Full Article
Read for later
Articles marked as Favorite are saved for later viewing.
Scroll to Top
Separate tags by commas
To access this feature, please upgrade your account.