Why Companies Declare Bankruptcy

By Steven Holland | April 25, 2018 | 0 Comments

You’ve heard it all before, a company goes bankrupt and then closes; former big names like Radio Shack and Toys R Us are some of the most recent victims. But should you panic when you hear of a company declaring bankruptcy, or more importantly, if you have your own company are there times when you …

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Bankruptcy vs Debt Consolidation

By Steven Holland | April 12, 2018 | 0 Comments

Before bankruptcy can be declared, the government requires persons considering this course of action to go through debt counseling to see if there are any alternatives available. Debt consolidation is a common strategy practice that is brought up in these sessions and is often used as an alternative to bankruptcy. As you begin to explore …

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How to Get out of a Bad Car Loan

By Steven Holland | April 8, 2018 | 0 Comments
Bad Car Loan

Cars are expensive. They depreciate rapidly, and that makes them a terrible “investment”. In many families, cars are among the priciest purchases made, often second only to housing. Most people can’t pay for a car out of pocket, new or used; approximately two-thirds of car buyers finance their purchase. As a result, car loans account for …

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Credit Card Debt Elimination through Bankruptcy

By Steven Holland | March 31, 2018 | 0 Comments
Credit Card Debt

Bankruptcy can be a frightening concept, but when you find yourself in overwhelming credit card debt, you may not have any other options. If you are receiving calls from bill collectors, not making payments, or simply at a loss of what your financial situation is, it may be time to evaluate what steps you should …

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How Long Before a Creditor Can Garnish Wages?

By Steven Holland | March 31, 2018 | 0 Comments

If you find yourself in debt and unable to pay it back, there is a fear that your creditors will come after you and begin to take money you need from your paychecks. Creditors may be pursuing you and either be threating wage garnishment, or you may already have experienced it. If you are at …

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Garnished Wages Without Notification

By Steven Holland | March 19, 2018 | 0 Comments
Garnished Wages

Are you having your wages garnished? Garnishment is a legal process that judgment creditors often use against consumers to collect debts owed on credit cards, payday loans, auto loans, student debt, unpaid taxes, and any other personal or even secured debt in some cases. In the majority of cases, your wages cannot be garnished without …

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How Do I Know if I Qualify for Chapter 7 Bankruptcy?

By Steven Holland | February 28, 2018 | 0 Comments
Chapter 7 Bankruptcy

Chapter 7 bankruptcy, also known as “liquidation bankruptcy,” is the most common type of bankruptcy filing in the United States. It is designed to help people with low income and high debt get a fresh start. The vast majority of recent filers have successfully erased their debt. In a nutshell, a bankruptcy court will discharge …

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You’re Unemployed and in Debt: Bankruptcy or Debt Negotiation?

By Steven Holland | February 22, 2018 | 0 Comments

Facing a mountain of debt is never easy under any circumstances. But if you lost your job due to layoffs or your company decided it was more cost effective to more your job to another country, then your situation could become dire. If you delay or ignore the calls to pay your creditors, you risk …

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Are “Termination on Bankruptcy” Contract Clauses Enforceable?

By Steven Holland | February 16, 2018 | 0 Comments
termination on bankruptcy

What exactly is a “termination on bankruptcy” clause? Do you have them in your business contracts? Has someone pulled out of a contract with you based on this provision? A “termination on bankruptcy” clause is standard in most business contracts. It allows one party to terminate the contract if the other party is bankrupt, insolvent, …

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