Should I Take A Bailout Loan To Stop Foreclosure?
When facing foreclosure, some people may consider taking a bailout loan as a solution. A bailout loan is a type of loan that can help borrowers avoid foreclosure and keep their home by providing them with additional funds to make mortgage payments. Although such loans can be beneficial for some homeowners, the decision to take one should not be taken lightly. For those who are considering taking a bailout loan to stop foreclosure, it is important to understand all of the pote
Why You Should Always Pay More on Your Credit Card than the Minimum Payment
If you have a credit card that carries a balance, it can be tempting to just make the minimum payment each month. However, this is actually one of the worst moves you can make with your credit card. Here are some reasons why you should always pay more than the minimum on your credit card: First and foremost, paying only the minimum amount due on your credit card will cause the debt to accrue interest over time. This means that if you keep up with making only minimal payments,
What You Need To Know About Divorce and Bankruptcy
Divorce and bankruptcy often go hand in hand, making it important to be informed of the implications of both. If you are considering a divorce or filing for bankruptcy, here is what you need to know. Filing for bankruptcy during a divorce can be beneficial financially. It can delay payments owed from one spouse to another until after debt repayment has been completed. This allows more financial flexibility during the process and prevents one spouse from taking on too much deb
What Are the Texas Bankruptcy Exemptions?
Texas residents who are facing financial hardship and considering filing for bankruptcy need to understand the state’s exemptions. Bankruptcy is a way of dealing with overwhelming debt, but it does come with some drawbacks. Knowing what you can keep out of the bankruptcy process is essential in making an informed decision about whether bankruptcy is right for you. Texas law allows debtors to exempt certain property from their bankruptcy filings. These exemptions include perso
Can A Judgment Creditor Take My Car?
A judgment creditor can take your car if certain conditions are met. Whether or not a judgment creditor is successful in seizing your car usually depends on the state's laws, the amount of money owed, and other factors. If a creditor obtains a court order to seize your vehicle, they are allowed to repossess it without any further notice. In most cases, creditors must first obtain a court judgment before they can take any action against you or your property. The judgment will
3 Things Everyone Should Know About Small Claims Court and Wage Garnishment
Small Claims Court and Wage Garnishment are two legal processes that no one wants to encounter. But, it's important to know the basics of each if you ever find yourself in a situation where you need to pursue or defend a legal claim. Here are three things everyone should know about Small Claims Court and Wage Garnishment. First, Small Claims Court is intended for those who cannot afford costly court fees and more complex litigation processes. It allows individuals, businesses
Filing a Late Tax Return To Claim Your Refund
It is never too late to claim a refund on your taxes. Filing a late tax return can provide you with the benefits of getting money back that you are entitled to, despite the fact that it may take longer than usual. The IRS will accept and process any tax returns regardless of how late they are filed, as long as they were submitted during the same fiscal year. The first step in filing a late tax return is to gather all the necessary documents needed for the filing process. This
Keeping a Checking Account During Chapter 7 Bankruptcy
Having to declare bankruptcy is never an easy choice, but unfortunately it is sometimes necessary. Managing finances during a Chapter 7 Bankruptcy can be overwhelming. One important consideration while going through bankruptcy is whether or not it’s possible to keep a checking account. The answer is yes, although there are certain restrictions in place. A person filing for Chapter 7 Bankruptcy must report all of their assets, including bank accounts and other financial accoun
Keeping a Checking Account During Chapter 7 Bankruptcy
The process of filing for Chapter 7 Bankruptcy is a difficult one, full of stress and uncertainty. One of the most important considerations when going through this process is how to manage your finances. Keeping a checking account during Chapter 7 Bankruptcy can be an invaluable tool for managing your cash flow and ensuring that you remain in compliance with the bankruptcy laws. Maintaining a checking account while filing for Chapter 7 Bankruptcy can provide many benefits. Fo
What are preferential payments in bankruptcy?
Preferential payments are transactions that take place between a debtor, creditor, and other third-party parties prior to a bankruptcy filing. When a company determines it is insolvent and unable to pay its debts as they come due, it may enter into bankruptcy proceedings. In certain situations, the company may have made payments or transfers of assets to creditors before entering bankruptcy which can be deemed preferential payments. Preferential payments can arise in several
