In today’s day and age, Americans are subject to more messages encouraging spending than ever before. On television, internet videos, magazines, books, storefront windows, billboards and beyond, we are given distinct messages that support the idea that you need to purchase, and while this isn’t necessarily a bad thing, as this is how our economy operates and stays afloat, when there’s little incentive to save, people often find themselves in tough financial situations.
The problem lies in the fact that nobody is telling Americans to save their money, and with good reason. Spending stimulates the economy, and when the economy
Nobody sets out on their career path at an early age planning on filing for bankruptcy someday, so we understand the stress one feels when they realize that they’re unable to uphold their end of their debts, through fiscal hardship or otherwise. For many Americans, financial ruin is only a car accident or sick day away, and once one of these unexpected tragedies occur, many find themselves unable to pay bills, loans and other payments they may have acquired. A situation can go from bad to worse in the case of serious medical conditions, which may strike suddenly and be
Simply charging into a chapter 13 bankruptcy can be an enormous mistake! During this process, there will be numerous qualifications, time deadlines and forms you must complete, as well as the naturally suspicious and keen eye of a bankruptcy trustee and the grit and tenacity of your creditors legal teams. There are dozens of steps in the bankruptcy process where one wrong move – one poorly or improperly filed paper, one above-average paystub, one missed meeting – can, quite literally, bring the walls down around you. For these reasons, it is highly suggested that you hire a professional bankruptcy attorney,
Chapter 7 bankruptcy is a specific chapter of bankruptcy that allows for quick and easy debt annulment, where a bankruptcy trustee supervises the cancellation of most, if not all debts and then liquidates property as a means of reimbursing creditors. Often called “straight liquidation” or “straight bankruptcy,” Chapter 7 is often the simplest, easiest and most straightforward approach to rising above credit debt and reestablishing a life of normalcy, without the constant fear of property and asset repossession.
While this may sound enticing to those who are facing financial hardship, there are many hoops an individual must jump through in
Nobody steps through the door of their home when they purchase it and think that one-day, they may be unable to pay for it. Typically, countless hours go into planning to take out a home loan, and blood, sweat and tears are shed accumulating the information required for the approval of a loan of this magnitude. John A. Hixson, a professional foreclosure attorney based out of Arlington TX, knows as well as any that a person’s home is their safe haven; their impenetrable fortress, and not only is it tragic when a lender files a foreclosure against your living space,
As a business, it’s important to pay attention to economics, listen to your customers, be one step ahead of the competition, allow yourself to grown and evolve in your business model and be passionate about what you do. Unfortunately for many business owners in America, the concept to running into the ground financially isn’t all that far off. With a wavering economy, one wrong move, or even more simply, a loss of interest in your goods or services due to people being unable to afford them can put a business feet up in the water of debt. We all make
Chapter 13 bankruptcy is, at its core, a less invasive alternative to the straight liquidation aspect of typical chapter 7 bankruptcy, which most opt for due to its quick and easy proceedings. But while chapter 7 bankruptcy can best be seen as a quick flurry of life changes that may end up seriously altering the way you live your life, chapter 13 is a drawn out, slow rolled and delicate process wherein you, as someone filing for bankruptcy are able to keep all of your assets – granted you are able to prove you have the means of paying for
The average American consumer, no matter their political affiliation or economic status is subjected every day with messages enforcing the idea that they should be constantly spending their money, which is good, as this is how the American economy survives. These ads are found everywhere: billboards besides freeways, pop-up ads on websites, television commercials, stamped onto paper products; Nearly everywhere we look, there is an ad that promotes spending money. It’s deeply embedded into the American culture that spending money is a great luxury, and people should be proud to spend.
While this may seem great on paper, far too
The state of Texas treats bankruptcy very much like most other states to, but may impose special rulings as far as what loans and assets are deemed securable in the eyes of the state. Aside from minor procedural differences, the state of Texas uses the same financial chapter laws as most other states when treating bankruptcy.
There are effectively two different types of bankruptcy that individuals may qualify for, plus an additional chapter that is exclusive to businesses. Chapter 7 bankruptcy entail a straight liquidation procedure, wherein, upon filing, your assets, property and accounts will be handed over to a
Bankruptcy law is complex and touchy process, and remains one of the most intricate fields of civil law to date. If you’re considering embarking on the process of declaring bankruptcy as a means of climbing out of debt, then you should be aware of the fact that this is not a simple procedure, and that there are many ways in which an individual or business can make a mistake during the process that might annul the whole thing. In cases of bankruptcy, time is money, and more than money, it can cause property and assets to be repossessed by creditors,