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How to Talk to Your Children About a Divorce
From the time that their children are born, parents communicate to and with their children. We croon to infants to help them get to sleep or to soothe them, we enunciate our words to help model speech, we teach them about the world around them, modulating our delivery based on their age and stage of development. Some of us do this naturally while others learn by watching our partners or imitating other parents, but when it comes to talking to children about divorce, we tend to freeze up, worried that we’re going to get it wrong. The first thing you …Read More ➡
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Will a Bankruptcy Prevent Me from Buying a House?
Though bankruptcy offers a fresh start and escape from the burden of debt, it also has several disadvantages, including a significant and long-lasting impact on your credit score. Many debtors hesitate about filing out of fear that they won’t qualify for a loan in the future. If you are concerned that filing for bankruptcy will forever crush your dreams of homeownership, we have good news for you. Things are not as bad as you think they are. Though it’s true that your bankruptcy will remain on your credit history for several years and it will take some time for you …Read More ➡
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Can I File for Bankruptcy if I’m Retired?
Your retirement years are supposed to be when you kick back, relax, and enjoy the fruits of your many years of labor. But life is unpredictable, and medical emergencies and other unexpected circumstances can lead to big bills that quickly deplete your available funds. If you’re being buried by bills and pursued by creditors, then bankruptcy may be the best answer for you. Here’s what you need to know about filing for bankruptcy during retirement. No matter when you’re considering bankruptcy, one of the first steps is determining which Chapter is the right one for you. While Chapter 7 can …Read More ➡
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What If I Can’t Pay After a Chapter 13 Bankruptcy?
Unlike a Chapter 7 bankruptcy that wipes out all debts and provides a completely clean slate, a Chapter 13 bankruptcy reorganizes your debts into a program that is more manageable, usually by either extending the amount of time in which you can pay back your creditors, reducing the amount owed, or lowering the interest rates. Debtors who decide to file for bankruptcy don’t necessarily choose a Chapter 13 bankruptcy voluntarily: rather, their assets and income are measured against their debts in a means test. If the test determines that they have sufficient income available to pay, Chapter 13 is their …Read More ➡
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What’s the Difference Between Separation and Divorce?
Separation and divorce are both ways to put distance between yourself and your spouse, but they have very different effects and ramifications. Divorce represents a legal dissolution of your marriage contract, while separation means that you are still legally married. For some, separation is a necessary step on the way to divorce, while others view separation as their end goal. Let’s take a closer look at the two. Separation provides couples time and space away from each other but still leaves both spouses’ legal rights and obligations intact. For example, couples who are separated can each still receive Social Security …Read More ➡
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Is Bankruptcy Only for Severe Debt?
In 2020, over half a million people filed for bankruptcy, and in 2019 that number was closed to 750,000. That may seem like a lot, but experts say that number could – and perhaps should – be much higher. With approximately 14% of Americans owing more than they own, there are many more people who could benefit from filing for bankruptcy. Many of them don’t because they simply don’t understand the process or how it could help them, and one of the biggest mistakes people make is believing that bankruptcy is only for severe debt. The truth is that there …Read More ➡
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Does Bankruptcy Stop Calls from Bill Collectors?
Ask what finally pushed a person into filing for bankruptcy and you’ll frequently hear that they simply could not tolerate the calls from bill collectors for one more day. These calls are designed to make debtors remit payment, and though the monies they seek are legitimately owed, their tactics are often less than ethical, and often border on intimidation and harassment. Though there are laws that protect debtors from being called earlier than 8 a.m., later than 9 p.m., or at work (if so requested), the one thing that is most effective at stopping the calls is filing for bankruptcy. …Read More ➡
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How Often do Financial Problems Lead to Divorce?
Do you and your spouse fight about money? You’re not alone. Anecdotal evidence and scientific studies both reveal the same thing – that roughly half of couples argue about money and spending, and if the couple is in debt or experiencing financial problems the arguments are generally worse. While it’s common for partners to argue about spending habits — especially when one is a spender and the other is a saver — there are also plenty of fights about who should pay for what within a marriage, and others that start with one partner trying to hide either an expense …Read More ➡
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Does a Bankruptcy Stay on My Credit Report Forever?
One of the biggest concerns and reasons why people are hesitant about filing for bankruptcy is the long-term impact that filing has on their credit report. Though a bankruptcy filing does not remain on your credit history forever or create a permanent black mark, it can definitely feel as though it does. Here’s what you need to know about the real time frame for both Chapter 7 and Chapter 13 bankruptcies, as well as some tips for improving your credit score immediately. The date that your bankruptcy gets removed from your credit score is dependent upon whether you file for …Read More ➡
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Will an Attorney Make the Bankruptcy Process Easier?
Making the decision to file for bankruptcy can be emotional and difficult. For some it is the culmination of a long struggle to get their financial feet under them, or the end result of a series of unpredictable events such as a job loss or medical emergency. No matter what the circumstances that led to your debt, once you’re ready to move forward you need to decide whether to file for yourself or to seek representation from an attorney. Though it is certainly possible to address the paperwork on your own, most people find that an attorney makes the process …Read More ➡
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