Get the facts behind these common bankruptcy myths
Misconceptions about bankruptcy prevent many people from relieving themselves of debt they can no longer pay. If you struggle with credit card bills and worry about losing your home, bankruptcy may be a route worth exploring. These are the truths behind four of the...
What happens to my credit score if I do not pay my tax debts?
Medical bills and student loans get a lot of media attention when it comes to the collective American debt. What people do not hear enough about are the Americans struggling to repay hefty tax debts to the IRS. Does this describe your situation? When people have big...
What is the Maryland Chapter 7 means test?
If you have begun thinking about filing Chapter 7 bankruptcy, you need to know about the means test you must pass in order to qualify. FindLaw explains that per the 2005 Bankruptcy Protection Act, each state first determines its residents' median annual income and...
What is the difference between an unsecured and a secured credit card?
A secured credit card is basically a training wheel credit card. You may be a young person applying for a credit card. The credit card company may want to know why it should give you a credit card. You have no credit history at all and you are too big of a risk. So...
Credit card options after Chapter 7
After people file for bankruptcy, they may think they will not be able to get a credit card. However, bankruptcy usually does not prevent people from getting new credit cards. A previous blog discussed the effects that bankruptcy can have on a credit score. This blog...
Can bankruptcy improve your credit score?
Whether you want to buy a new car, purchase a home or even set up a cellphone plan, you likely need to have decent credit. If you struggle to pay your bills, though, your credit score may not be as high as you would like. You may also worry about ever having the...
Why elderly bankruptcy is on the rise
Bankruptcy is a legal status where a person declares they are in a financial fix and might not be able to pay for their debts. Individuals, businesses, and even big companies file for bankruptcies all over the world. What is alarming is the high number of older...
Top divorce and bankruptcy considerations before filing
Financial struggles faced by Maryland residents can cause a marriage to fail. When the couple decides to split and file for bankruptcy to start life anew, there are a few considerations before filing one or the other. Keep in mind individuals should assess their...
What is the best way to avoid owing the IRS money?
No matter the time of year, it is always best to think about the upcoming tax season. Being caught unawares could result in you owing the IRS money rather than receiving a refund check. To help, the Nest provides several ways to keep your tax bill as low as possible....
Understanding unfamiliar bankruptcy terms
Bankruptcy is a scary prospect for many consumers. However, it is not necessarily as bad as you might imagine. Its purpose is not to ruin your financial prospects forever. Rather, it is to help you rehabilitate your financial situation. As a consumer, there are...
