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Short Sale and Bankruptcy: Weighing the Options for Mortgage Debts
When paying your mortgage debt is beyond your means and you are facing the possibility of foreclosure, there are a couple of options available to you. These include allowing the foreclosure to happen; proceeding with a short sale; and filing for bankruptcy. Deciding which is the best choice for you can be a challenge, especially if you are interested in maintaining or rebuilding your credit score. Let’s look at the factors that you should consider. There’s no doubt that choosing any of these options will hit your credit score hard. Most short sales and foreclosures will drop your credit score …Read More ➡
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Why Are Divorce Rates Down Amongst Millennials?
Depending upon your age, you may remember the days when most couples got married and did so when they were in their early twenties or even younger. They quickly began having children despite the fact that many were not well settled in their careers, or even had formulated their life goals. Unfortunately, in many cases that resulted in a high rate of divorce that continues to be seen even as they enter what should be their golden years – in fact, the “grey divorce” rate is on the rise. By contrast, the overall divorce rate in the United States has …Read More ➡
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How to Know if Bankruptcy is Your Best Option
Nobody likes opening their mail (or inbox) and seeing a ton of bills. But for some people, bills evoke more than dislike: they cause actual pit-of-the-stomach, heart-thumping dread. The reason is simple — they are unable to pay. Regardless of whether the reason is financial carelessness or having been through some kind of economic disaster, if you’re in a situation where you see no end to your financial trouble then you are probably considering filing for bankruptcy. The question is, how can you tell whether it’s your best option? The first thing you need to know is that there are …Read More ➡
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What to do When a Creditor Files a Collection Lawsuit
Most American adults carry some kind of debt, but if your debt has gotten away from you and your creditors are tired of waiting, they’ll first turn to debt collectors and then eventually to filing a collection lawsuit. If your first response to a collection lawsuit is fear, that’s perfectly normal. The best way to move forward is by educating yourself on your rights and what to do — as well as what not to do. The first thing you need to know is that it’s a big mistake to ignore a collection lawsuit. The notification comes in the form …Read More ➡
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Do You Need a Divorce Attorney?
People get divorced for a lot of different reasons. Though most divorces are challenging processes tainted with animosity and bad feelings, there are those couples who are able to walk away from their marriage without a lot of argument and bickering. If that is your situation, you and your soon-to-be-ex may be considering foregoing an attorney entirely and managing your divorce on your own. There are a lot of reasons why that is not a good idea. You may think that you agree on everything, and there’s a chance that might be true. The truth is that you and your …Read More ➡
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How Long Does a Chapter 13 Bankruptcy Take?
A Chapter 13 bankruptcy lets you reorganize secured debts such as car or house payments and some unsecured debts. It lets you repay some creditors at a lower rate and some for a longer period of time or a lower interest rate. The plans usually last from three to five years, but there are a lot of factors that can change the length of time. When a Chapter 13 bankruptcy payment plan is created, you stop paying your creditors. Instead, sending monthly payments to the trustee who is responsible for administering your bankruptcy. The length of the plan will be …Read More ➡
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Is Joint Physical Custody Best for Children after a Divorce?
When a couple makes the decision to end their marriage, it may be the end to long-standing problems but the beginning of all new ones. Though divorce is generally the low point of a relationship, it is also the baseline from which the couple will need to make some of the most consequential decisions they’ve ever made together, with decisions about custody being the most challenging of all. In most cases, both parents want what is best for their children, but each will have their own interpretation of what that actually is. One of the first questions they will have …Read More ➡
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What If I Decide Divorce is not the Right Choice After Filing?
To call divorce a big decision is the epitome of understatement. There are many very good reasons to end a marriage, and just as many very good reasons to reconsider. But what happens if you’ve gone so far as to hire an attorney, file the paperwork and tell your friends, family and colleagues. Isn’t it too late to turn back? The short answer is that it’s never too late. Not only do plenty of people reverse themselves and decide to give their marriage another chance, but there are a fair number of people who go through the entire process of …Read More ➡
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Does a Bankruptcy Stop Wage Garnishment?
Wage garnishment is a legal action that permits a creditor to have the sheriff or marshal contact your employer and order them to hold a certain percentage of your wages and send it to them. It can have a significant effect on your quality of life and ability to pay for fixed expenses, even though there are limits on how much can be held back. If you are struggling to make ends meet as a result of a wage garnishment imposed by a credit card company or other creditor, filing for bankruptcy is an effective way to have a wage …Read More ➡
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Does Everyone Need a Prenup?
Though most people prefer to take a more romantic view, at its base a marriage is a legal contract between two people, and that contract may last for a lifetime or it can be broken, just like any other arrangement. Having a prenuptial agreement adds a layer of protection for both partners, allowing them to agree to terms ahead of time in case the marriage should end up failing. As unromantic as this may sound, there is a good deal of wisdom to trying to come up with a fair agreement while you’re still in love and care about each …Read More ➡
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