Bankruptcy Right For You?
Bankruptcy? Thinking of Throwing in the Towel?
Thinking about filing bankruptcy? You need to give it some serious thought, there may be consequences that go far beyond the actual discharge of your debt. There are two types of bankruptcies that most individuals file. One is chapter 7 which is a complete discharge of all your debt. The other, is chapter 13 were basically you make a payment arrangement with the trustee and your creditors.
So when do you decide it’s time to throw in the towel? You have to ask yourself the following questions. Do your debts exceed your income? Are you anxious and scared to total all of your debt? Is your phone ring off the hook incessantly? Are you only paying the minimum amounts on any payment due? If you answered yes to two or more of these questions, then you should seriously consider if bankruptcy is right for you.
Categories: consumer info Tags: bad debt, bankruptcy, credit card debt, credit counselor, debt, maxed out, personal credit crisis
Your Credit and Ex Spouse
Protect Your Identity!
Nothing can ruin your credit quicker than charges your ex is running up that you are responsible for. For example medical charges! These can add up fast and before you know it, you have a pile of bad debt Click Here! . Take it from me; I’m talking from personal experience.
Make sure you have some sort of document such as a judgment from divorce court stating that your spouse is responsible for his/her own medical and co pays! Don’t forget procedures and treatments that are not covered by your health coverage.
Just today I received three collection letters with charges adding up over $2500! I’m the responsible party on our health coverage. However, per the court she is responsible for her own “out of pocket” expenses. I will be faxing a copy of the court judgment to the collection agency on Monday! So many people, particularly men get burned this way. It can take months or even years to undo the damage of an angry ex.
You don’t have to be a victim! Take charge of your credit and finances and protect yourself. If you are going through a divorce or have already been divorced watch your credit like a hawk. Sometimes it’s not always a stranger who does harm to you. More often than not, it’s someone who is close or in this case, used to be close to you!
Categories: consumer info Tags: bad debt, credit repair, debt, divorce court, finance