The number one reason people file for Chapter 7 bankruptcy is overwhelming medical debt. Medical expenses are a leading cause because they can be unexpected, unavoidable, and often come with high costs that insurance may not fully cover. Many people facing serious health issues also experience a loss of income, making it even harder to […]

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You do not have to file bankruptcy with your spouse. You have the option to file: Individually – If most of the debt is in your name, filing alone may be a better choice. This can protect your spouse’s credit if they are not legally responsible for the debts. Jointly – If both you and […]

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When you take a step back and really evaluate your financial situation, you may be shocked at just how much debt is truly costing you. Many people continue making minimum payments, struggling to keep up, and watching their balances barely decrease due to interest, fees, and penalties. But what if there was a way to […]

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Yes, you can be sued for unpaid credit card debt even if you are retired and living on a fixed income such as Social Security or a pension. Here are the key points to consider: 1. Lawsuit for Unpaid Debt If you fail to pay your credit card debt, creditors or debt collectors can file […]

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If you’re looking for apps that can help gamblers in a positive and constructive way, there are several categories to consider based on their needs. Here are some recommendations: 1. Apps for Gambling Addiction Recovery These apps help users control or overcome gambling habits: Gambling Therapy (iOS, Android): Offers support and self-help tools for individuals […]

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Preparing documentation for bankruptcy as a gambling addict requires transparency and thoroughness to avoid complications and ensure the process moves smoothly. Here’s a step-by-step guide: 1. Gather Financial Records Income Statements: Pay stubs for the past 6 months. Tax returns for the past 2-3 years. Bank Statements: Include all accounts for the last 6-12 months […]

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After a judgment is entered against you in a court of law, creditors gain legal rights to collect the debt you owe, including the possibility of wage garnishment. Here’s what typically happens after a judgment is granted and how wage garnishment works: 1. Notification of Judgment Once a judgment is issued in favor of the […]

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When you stop paying your credit cards, the consequences can escalate over time and affect your credit score, finances, and even legal standing. Here’s a breakdown of what can happen: 1. Late Fees and Increased Interest Rates (1–30 days late) Late Fees: Most credit card companies will charge you a late fee for missing a […]

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A common myth is that taxes are not dischargeable in a bankruptcy. Taxes can be dischargeable in a Chapter 7 bankruptcy. It can be categorized in the same bucket as all your other unsecured debts. Here are some basic rules to know: 3 Year Rule The first is the 3-Year Rule. This states that in […]

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Bankruptcy Exemptions When filing for Chapter 7 Bankruptcy, you are allowed certain bankruptcy exemptions. They are referred to as 703 and 704 exemptions. These are also protections of your income and assets. The exemptions allow you to keep some or all your assets, California allows for many exemptions of your property, retirement accounts and other […]

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