Yes, vehicle repossession debt can lead to bankruptcy if it creates an overwhelming financial burden. Here’s how: Deficiency Balance – If your car is repossessed and sold at auction for less than what you owe on the loan, the lender can pursue you for the remaining balance (deficiency balance). This can be a significant debt, […]
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Cash advance loans aren’t necessarily scams, but they can be risky due to high fees and interest rates. Here’s what you should watch out for: Legitimate Cash Advance Loans Bank or Credit Card Cash Advances: Many banks and credit card companies offer cash advances, but they often come with high fees and interest rates. Employer-Based […]
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Credit counseling is a service that helps individuals manage their finances, particularly when dealing with debt. It is typically provided by nonprofit organizations or financial experts who assess your financial situation, provide budgeting advice, and offer strategies to improve your credit health. What Credit Counseling Includes: Budgeting Assistance: Helps you create a realistic budget to […]
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Credit counseling is a useful tool for many people struggling with debt, but it is not always the best solution. It may not help if your debt is too large to be repaid within a reasonable time, your income is insufficient to cover even reduced payments, or your financial hardship is long-term and unlikely to […]
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Payday loans aren’t necessarily scams, but they are often predatory. They typically come with extremely high interest rates (sometimes 300-600% APR) and short repayment periods, which can trap borrowers in a cycle of debt. Many payday lenders make their money by rolling over loans, charging additional fees, and keeping borrowers reliant on repeated borrowing. In […]
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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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helping good people with bad debt
helping good people with bad debt
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