Past posts on this blog detailed some of the differences between the various forms of personal bankruptcy. Many people in Michigan may wonder why anyone seeking bankruptcy protection would try and file under Chapter 13 given that it does not offer the comprehensive...
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Month: October 2020
Why is it so easy to get into credit card debt?
Credit card debt is a huge issue for many people, and it does not just affect those who are bad with finances. It can happen to anyone. Out of control credit card debt is not always the result of not being responsible with your credit. U.S. News and World Report...
How can I benefit from an automatic stay?
Some people fear filing for bankruptcy, believing it will cast a stigma that will be hard to recover from. In reality, many people have successfully used bankruptcy to get out from under burdensome debt and return to fiscal solvency. One of the valuable tools...
The benefits of Chapter 7 bankruptcy
When unexpected financial strife affects your ability to pay debts, you may find yourself quickly overwhelmed and unable to catch up. The loss of a job, an illness or other issues may cause this circumstance, but Chapter 7 bankruptcy could help. Forbes reports that...
Keep a close eye on your debt-to-income ratio
If you have too much debt relative to your income, you may have trouble securing a mortgage, auto loan or any other type of financing. In fact, the U.S. Consumer Financial Protection Bureau notes that any debt-to-income ratio above 43% is likely to be problematic....
