If your car is currently worth less than the amount that you owe on it, you may be able to lower the amount of the loan through your bankruptcy filing. This process is called a Cram Down. A Cram Down essentially reduces the amount that you owe on your vehicle to the value of the […]
One of the results of a bad economy has been a rise in payday loans. A payday loan is a short term loan that is meant to cover a borrow until their next paycheck. Typically, a borrower provides the lender with their checking account information and the lender deposits money into the account to be […]
When facing unmanageable debts, many people question whether bankruptcy or debt consolidation through a debt consolidation company would be their best solution. In order to effectively weigh your options, you need to have a solid understanding of how debt consolidation really works. When entering into a debt consolidation program, you are entering into a contract with a service that […]
Had a conversation with a potential client who asked when a debt is too old for a debt collector to collect on. The statute of limitations varies by state and ranges between 3 and 10 years. In PA, the statute of limitations on contract claims is 4 years. (She may need to look at the […]
When considering whether to file a personal bankruptcy, a central issue for small business owners is how this filing will affect their business. Many business owners who seek to continue operating their business avoid filing bankruptcy because of this concern even when they need a relief from insurmountable personal debt. The answer to the question […]
For the past few weeks I have passed the Occupy Philadelphia movement that has taken over the area outside of City Hall. There are many young adults holding signs that reflect their stance on a myriad of issues which all seem to boil down to one thing: young Americans are angry! There has been a […]
Many families are looking for ways to save money this holiday season without sacrificing the spirit of the holidays. Being frugal does not make you a scrooge. One of the ways to prevent your financial situation from spiraling out of control is to avoid overspending, even on the holidays. When asked how to avoid filing […]
Bankruptcy is a process by which consumers can eliminate or repay some or all of their debts under the protection of the federal bankruptcy court. Where a consumer is drowning in credit card debt, Chapter 7 bankruptcy is an option they may want to consider. Chapter 7 bankruptcy is provided for by US Federal Bankruptcy […]