For many consumers, a good credit score seems life-or-death important, although they're not exactly sure why. Some people will endure incredible financial distress to keep their credit score up, even though they know there's no logical way to keep making all their debt payments.
Filing for bankruptcy is a big decision that should never be rushed or taken lightly. But for individuals, couples and small-business owners who feel like they are drowning in debt, bankruptcy can be a lifesaver, sometimes literally.
Alcoholism and drug addiction affect people from all backgrounds in the Nashville area. Medical providers, social service agencies, law enforcement personnel and educators are always trying to find solutions to the many problems caused by substance abuse. But what if the problem hits really close to home, or it is in your home right now?
Countless celebrities have filed for bankruptcy over the years. According to Time, this long list includes talk show titan Larry King, former heavyweight champ Mike Tyson, rappers 50 Cent and MC Hammer, actors Gary Busey and Burt Reynolds, and rock stars Tom Petty and Mick Fleetwood. Abraham Lincoln, Henry Ford and Donald Trump are often cited as other examples.
When you hear the two words, "student loan," do you have an emotional reaction?
Many Americans have strong feelings, positive and negative, about our new president and his financial history. Some are impressed, even dazzled, by his many eponymous businesses and displays of apparent personal wealth. Others are skeptical about President Trump's tax returns and his history of business bankruptcy filings.
Married people can get confused about how to utilize Chapter 7 or Chapter 13 bankruptcy protection. Some couples with excessive debt -- whether it is related to an illness, a job loss, a business issue or another problem -- know bankruptcy can help bring relief, but they may be unclear about whether they should file together or separately, which can be more expensive and complicated.
When you're in financial trouble, your friends and family sincerely want to help. Everyone seems to have an opinion about what you should do to improve your situation and find relief. You can find plenty of "advice" on social media and in the "news," but how much of it is true and applicable to your financial circumstances?
Financial difficulties can be incredibly stressful, whether they are caused by a job loss, a divorce, an illness or another problem. A person can lose sleep, feel powerless and suffer multiple symptoms of depression and anxiety. Above all else, some homeowners are terrified of losing their home during a hard time.
Even though the Fair Debt Collection Practices Act (FDCPA) places restrictions on how debt collectors can interact with consumers, many debtor collectors have been known to push these restrictions to the limit - and sometimes beyond the limit.