Voluntary Repossession: Pros, Cons, and What to Do Instead
Voluntary Repossession: Pros, Cons, and What to Do Instead If you’re falling behind on your car payments, you might be wondering whether it’s better to hand the keys back to the lender instead of waiting for them to send a tow truck. This is called voluntary repossession (or voluntary surrender), and while it can feel […]
How to Get Out of Debt Fast: Your Smartest Moves
How to Get Out of Debt Fast: Your Smartest Moves If you’re staring at a pile of bills and wondering how you’ll ever pay them off, you’re not alone. Credit card debt, personal loans, and medical bills can pile up quickly — and high interest rates make it feel like you’re treading water no matter […]
What Is the Bankruptcy Means Test? And How to Pass the Means Test for Chapter 7
What Is the Bankruptcy Means Test? And How to Pass the Means Test for Chapter 7 If you’ve started researching bankruptcy, you’ve probably come across the term “means test”—and maybe even felt a little confused or overwhelmed. You’re not alone. The means test is one of the most talked-about (and misunderstood) parts of filing for […]
Can You Get Rid of a HELOC in Bankruptcy?
Can You Get Rid of a HELOC in Bankruptcy? A home equity line of credit (HELOC) can be a helpful tool—until it becomes a financial burden. Whether you’re behind on payments or worried about what happens if you stop paying, many homeowners ask: “Can I get rid of a HELOC in bankruptcy?” The short answer: […]
I’m Retired and Broke: What to Do When Retirement Isn’t What You Expected
I’m Retired and Broke: What to Do When Retirement Isn’t What You Expected If you’ve found yourself saying, “I’m retired and broke”—you’re not alone. More Americans are entering or living through retirement with debt, minimal savings, and rising costs than ever before. Whether you’re deep into retirement or just getting started with limited resources, there […]
Chapter 13 Bankruptcy Myths—Busted With Real Numbers and Real Benefits
If you’ve heard that Chapter 13 bankruptcy means repaying all your debt—or that it’s just for people who “fail” Chapter 7—you’re not alone. Chapter 13 is one of the most misunderstood parts of bankruptcy law, but it’s also one of the most powerful financial tools available to people with steady income and serious debt. Chapter […]
Why Debt Consolidation Plans and Debt Settlement Fail — and What You Can Do Instead
Why Debt Consolidation Plans and Debt Settlement Fail — and What You Can Do Instead When you’re overwhelmed by debt, it’s tempting to believe there’s a quick and painless solution. Debt settlement and debt consolidation companies often market themselves as that easy way out: “One low monthly payment. No bankruptcy. We negotiate with your creditors.” […]
What Is a Personal Guarantee on Business Debt—And Why It Matters
What Is a Personal Guarantee on Business Debt—And Why It Matters Many small business owners form LLCs or corporations to protect their personal assets from business liabilities. But all that protection can vanish the moment you sign a personal guarantee. These common but often overlooked clauses make you personally responsible for business debt—even if the […]
Non-Consumer Debt Exception: How High-Income Earners with Tax or Business Debt Can Still Qualify for Chapter 7
Non-Consumer Debt Exception: How High-Income Earners with Tax or Business Debt Can Still Qualify for Chapter 7 Can You File Chapter 7 Bankruptcy If You Make Too Much? Yes—If Most of Your Debt Is Business, Tax, or Non-Consumer Many people believe that if they earn too much, they can’t qualify for Chapter 7 bankruptcy. But […]
Chapter 13 Motion to Dismiss: What It Means and How to Save Your Case
Chapter 13 Motion to Dismiss: What It Means and How to Save Your Case Filing for Chapter 13 bankruptcy gives you a powerful way to reorganize debt and protect your home and assets. But it comes with strict rules—and if something goes wrong, the trustee may file a Motion to Dismiss your case. This can […]