Why Dave Ramsey Gets It Wrong About Debt, Bankruptcy, and Credit
Why Dave Ramsey Gets It Wrong About Debt, Bankruptcy, and Credit—And What You Should Do Instead Dave Ramsey is one of the most well-known financial personalities in the country. He’s helped millions of people get on a budget, cut up their credit cards, and make smarter choices with their money. For some, his strict, no-nonsense […]
Can Bankruptcy Get Rid of SBA Loans or EIDL Loans?
Can Bankruptcy Get Rid of SBA Loans or EIDL Loans? The COVID-19 pandemic pushed many small businesses and self-employed individuals to seek help through SBA loans—particularly EIDLs (Economic Injury Disaster Loans). Years later, some borrowers are still struggling with the debt. If are struggling to pay any of your debt, especially business debt, it is […]
Top 10 Strategies to Manage Debt
Top 10 Strategies to Manage Debt Feeling trapped by debt? You’re not alone. Studies show that over 70% of Americans feel stressed about their finances, with debt being a leading cause of anxiety. Overwhelming debt can result in sleepless nights, strained relationships, and missed opportunities. However, the good news is that debt can be managed—and […]
What Happens If I Don’t Qualify for Chapter 7 Bankruptcy?
What Happens If I Don’t Qualify for Chapter 7 Bankruptcy? If you’re considering bankruptcy but were told you don’t qualify for Chapter 7, don’t panic—you still have options. Many people either do not pass the means test or choose to avoid Chapter 7 because of nonexempt assets they want to keep. In these situations, Chapter […]
Zombie Mortgages Are Back
Zombie Mortgages Are Back: They Pose Risks Even If Current on Your First Mortgage Between 2004 and 2009, millions of homeowners took out second mortgages—either as part of zero-down 80/20 loans or by tapping into their home’s equity with HELOCs (Home Equity Lines of Credit) and home equity loans. For years, these loans sat quietly—often […]
How Does Bankruptcy Affect My Spouse?
How Does Bankruptcy Affect My Spouse? Filing for bankruptcy is a significant financial decision, and if you’re married, you may be wondering how it will impact your spouse—especially their credit. The good news is that bankruptcy doesn’t automatically affect your spouse’s credit score, but the extent of its impact depends on whether you file individually […]
50 Questions to Ask a Bankruptcy Attorney Before Hiring Them
50 Questions to Ask a Bankruptcy Attorney Before Hiring Them Choosing the right bankruptcy attorney is a crucial step in getting the debt relief you need. Filing for bankruptcy is a legal process with long-term financial consequences, and working with an experienced, knowledgeable lawyer can make a significant difference in your case. Before hiring an […]
15 Things to Avoid Before Filing Bankruptcy
15 Things to Avoid Before Filing Bankruptcy Filing for bankruptcy can be a smart financial decision when you’re overwhelmed with debt, but certain mistakes before filing can complicate your case, delay your discharge, or even cause you to lose assets. To ensure a smooth bankruptcy process, avoid these 15 common mistakes before filing Chapter 7 […]
What Is an Asset in Bankruptcy? Understanding What You Must List and Why
What Is an Asset in Bankruptcy? Understanding What You Must List and Why One of the most common misunderstandings in bankruptcy is what qualifies as an “asset.” Many people assume they have nothing of value, or that only big-ticket items—like a house or car—need to be listed. But in reality, everything you own or have […]
Understanding Virginia’s Wildcard Exemption and Homestead Deed in Bankruptcy
Understanding Virginia’s Wildcard Exemption and Homestead Deed in Bankruptcy When filing for bankruptcy in Virginia, one of the most misunderstood topics is Virginia’s wildcard exemption—often referred to as the VA Code 34-4 or homestead deed. This exemption plays a crucial role in protecting assets during a Chapter 7 or Chapter 13 bankruptcy. However, Virginia’s laws […]