Before filing for bankruptcy or after, many consumers are looking for advice on how to handle their personal finances. A bankruptcy can last on your credit report for several years, but it’s worth pursuing bankruptcy protection for those who feel like their debt has gotten out of control but they want to keep their property. For others, maybe you just need a little bit of help learning how to budget better. Whether it’s about rebuilding your credit, opening a new line of credit without digging deeper into debt, or getting a mortgage after bankruptcy, we want to make National Bankruptcy Forum your first stop for personal finance information. Your next step would be consulting with a qualified bankruptcy attorney or a financial advisor. Good luck!
Make Student Loan Debt Dischargeable in Bankruptcy…Again
Why Not Student Loans? In the famous decision, Local Loan Co. vs. Hunt, the Supreme Court summed up the relatively simple policy behind our bankruptcy laws: the “honest but unfortunate” debtor is given the opportunity to start over, “unhampered by the pressure and discouragement of preexisting debt.” The idea of periodic debt forgiveness is ancient, appearing numerous…Read more
Why is My Credit Card Company Suing Me?
Last updated Aug. 30, 2017. You’ve received a summons and complaint, your credit card company has filed a lawsuit. What to do now? Should you file for bankruptcy? First, understand that credit card debt is a type of unsecured debt, meaning that if you can’t make payments, your credit card company cannot come after your personal property…Read more
Can Creditors Garnish My Wages in Florida?
Last updated Sept. 21, 2017. Yes, Florida law does allow creditors to garnish your wages. However, a creditors’ right to garnishment, and the amount they’re entitled to garnish, hinges on whether you qualify as a “head of family” under Florida statute 222.11. The Florida statutes define a head of family as “any person who is…Read more
Debt Settlement Tax Consequences: Three Rules to Remember
If you find yourself deep in debt, and are exploring your options to get out, the odds are you’ve considered both bankruptcy and debt settlement. Most consumers don’t realize that debt settlement carries with it significant tax consequences. In order to help you make a more educated decision, there are three rules you should be…Read more