Below you'll find a list of all posts that have been categorized as “Debts”
It’s no secret that professional athletes are some of the highest paid entertainers. So why is it that many of them up end filing for bankruptcy? Turns out the answer is a little more complicated than simply leading a baller lifestyle. Famous Athletes Who Filed Bankruptcy Mike Tyson: purchased one too many Siberian tigers Allen Iverson: would buy new clothes …
Debt settlement is a way to settle your debt by paying your creditors less than you owe them. Creditors are usually willing to negotiate and typically accept a settlement in the range of 40 to 50 percent of your outstanding balance. Although this option may be a better solution for you than bankruptcy, it is still a huge mark against …
Many people in America find themselves buried in debts that they can no longer handle. When you’ve reached the point that you have little hope of catching up, you may start considering filing for bankruptcy. Before you do, it’s important to know how declaring bankruptcy works and what it can (and cannot) do for your financial situation. Here’s a closer …
The term “bankruptcy” still holds connotations of debtors prisons and the social stigma of being financially insolvent. Luckily, people have not been jailed for declaring bankruptcy since 1833, and in some cases, declaring bankruptcy can be a viable part of a plan to clean up your finances. However, it’s important to understand what bankruptcy means, and the difference between the …
When you own a piece of property, there are a few different ways in which you can transfer that ownership to someone else, and several different reasons why you might want to. A quit-claim deed is one of the ways in which you can arrange to legally transfer property rights to another person or legal entity in the state of …
If you’re behind on debt payments and don’t have much hope of catching up, you may be considering declaring bankruptcy as a solution. Before you do, it’s important to know exactly what declaring bankruptcy can (and cannot) do for your financial situation. Here’s a closer look at how both chapter 7 and chapter 13 bankruptcy work, and how they can …
Many people who are having trouble paying their debts and surviving at the same time are often curious about the potential consequences of filing for bankruptcy. Luckily, debtor’s prisons were done away with back in 1833, but if you file for either Chapter 7 or Chapter 13 bankruptcy, your credit score will be affected. Here’s some more information on …
Personal Bankruptcy: Are You Free at Last? Not So Fast. Personal bankruptcy can be a viable solution for dealing with your consumer debts, such as credit cards or personal loans. However, personal bankruptcy does not eliminate all kinds of debt. You will still owe debts to the federal government, like back taxes and student loans. Additionally, …
Student Loans. Cue the ominous music. Cue the stress and the worry. Just the very mention of those two simple words can send shudders down the spine of anyone who has ever taken a student loan out. But nowadays, most people attending college have to take on student loans. They have high hopes of earning a college degree, obtaining a high paying job, and …
A Missouri jury ordered a debt buyer to pay nearly $83 million dollars to a Kansas City woman it pursued for a $1,000 credit card bill she didn’t owe. The jury found Portfolio Recovery Associates LLC guilty of violating the Fair Debt Collection Practices Act, for which it will pay a fine of $250,000. They also maliciously prosecuted the woman, …
