If you are thinking of filing for bankruptcy as an individual consumer, you usually have two choices available to you: Chapter 7 or Chapter 13. Chapter 13 involves proposing a repayment plan in which you will pay back at least some of your debt. Eligibility...
Chapter 7 bankruptcy is typically the most popular option when it comes to filing for personal bankruptcy in Livonia. This is due to the fact that under Chapter 7, a debtor may be able to have certain debts discharged (provided that they qualify to file). Debts...
You are deep in credit card debt; you cannot deny that. What may remain unclear to you is the core reason for your debt. Could it be that you are a compulsive buyer? To better understand what it means to be a compulsive buyer, see what Psychology Today has to say...
Your mortgage debt may bring you ever closer to losing your home to foreclosure. However, it may not be too late for you to avoid losing your home. This Old House lays out several suggestions for preventing foreclosure. Putting them to good use can help worried...
If you are like many Michigan residents who are struggling with overwhelming debt, it may be difficult to figure out how to pay off your creditors and recover your financial stability. Fortunately, there are several options you may pursue. If you have a source of...
Many people in Michigan who may be considering bankruptcy as a solution to their financial challenges can at first resist this step in part based on things they have heard from others. Many rumors surrounding bankruptcy and its impact on consumers can prevent people...
Are you a resident of Michigan suffering through creditor harassment? Sometimes, it can be difficult to pick up on the signs. Today we will take a look at some of the potential warning signs that you are facing creditor harassment. The most obvious signs usually...
According to NerdWallet, American household incomes have grown faster than the cost of living for the past decade. Despite that, consumer debt continues to rise. As of December 2019, the total revolving credit card debt in the nation is $443.96 billion. The average...
There may be no doubt that you are in debt. What may be uncertain is how much your debt impacts your mental health as you attempt to enjoy life in Michigan. The Simple Dollar explored the mental and emotional impact of debt. While managing your credit card or mortgage...
If you are between the ages of 25 and 34, odds are good that you worry about repaying your student loan(s). Approximately one-third of Americans in that age group have debt due to a federal student loan. Together, Americans owe over $1.5 trillion in federal student...
