The New Year Brings New Credit Card Debt
The holidays are upon us and a desire to give to our friends and family often leads to credit card debt that can be daunting. As the calendar ticks over to January, we come that much closer to the day the mail carrier brings those credit card bills. Now what? 1. Don’t panic! It is […]
Reading and Understanding Your Credit Report
The credit report holds important information about your financial history, your ability to pay bills and your overall solvency. Most of the focus is centered on the score. However, there are several criteria that make up your credit score which you should understand. Credit Card Use The credit card companies total the amount of money […]
How to Stop Robbing Peter to Pay Paul
What does it mean to rob Peter to pay Paul? In researching the origin of the meaning of this common phrase, we learn: “The expression refers to times before the Reformation when Church taxes had to be paid to St. Paul’s church in London and to St. Peter’s church in Rome; originally it referred to […]
Low Income People: Are You Being Sued?
Bankruptcy Advocates has advice for low income people who are being sued. Assume that you are on limited income – for example $1000.00 per month in social security or disability benefits. You pay $350.00 per month rent, your utilities run $200.00 per month, and with food and your other expenses there is no money left […]
Should I Transfer My Property To My Relatives?
People who are under financial pressure will frequently consider extreme measures. If you are attempting to avoid bankruptcy, before you take drastic measures, seek guidance from a professional. One way people have been know to attempt to avoid bankruptcy is by taking their personal assets, like property and transferring ownership to another family member. For […]
10 Steps to Talking with Creditors About Your Past Due Bills
Is your least favorite activity of the day opening the mail? Are the minimum payments you make each month barely making a dent in your overall debt? It may be time to call your creditors. Rather than avoid the phone calls or cringe when you see your monthly statement, why not take control of your […]
Bankruptcy Alternatives: Bankruptcy Is Not the Only Option
When finances get tough and the creditor is at your door, you may be tempted to think that bankruptcy is your only option. But this is not always true, there are bankruptcy alternatives. Our human nature compels us to circle the wagon, so to speak. We are tempted to pretend to the outside world that […]
Which Comes First: Saving Money or Paying Down Debt?
Which is more important: savings or paying down debt? You just came into an extra $100. Do you put it in the bank for a rainy day, make an extra credit card payment or go out to dinner and a movie? There are people who will argue for all three options but it depends on […]