A Look at Personal Bankruptcy & What to Expect...

Jun 24, 2014 by

One of the most difficult decisions that you can face is whether or not to file for bankruptcy. For individuals, there are basically two types of personal bankruptcy, which includes Chapter 7 and Chapter 13. Designed to give the filer a fresh start in life by wiping out certain debts, a Chapter 7 bankruptcy will rid the filer of credit card and other unsecured debt. A chapter 13 bankruptcy, on the other hand, is a court-approved payment plan in which the filer is required to repay a predetermined percentage of their debt. The determination of which chapter to file will be based on the filer’s disposable income, if any, after paying their necessary monthly bills. When many people file for bankruptcy, their first thoughts are of their assets and whether or not they may...

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7 Indicators That You May Be Carrying Too Much Debt...

Jun 24, 2014 by

Debt has practically become a national pastime. The United States and its citizens largely run on credit. While credit can be a great convenience, it can also create major financial challenges. Carrying too much debt creates a lot of additional costs and stress that are unnecessary. Anyone who’s had a sleepless night because of debt knows how much it can negatively influence your life. Most of us are used to having a significant amount of debt. But, how much is too much? Look for these signs that you’re carrying too much debt: You’re carrying a credit card balance. If you’re carrying a credit card balance each month, it’s critical to your financial health to pay this debt down. If you’re unable to pay it off, that’s a sign that you have too much debt....

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How to Use Store Credit Cards

Jun 24, 2014 by

Many of us have and use store credit cards. We’re commonly enticed to complete store credit applications by promises of discounts and rebates. But are these store credit cards a smart decision? It isn’t easy to know. A little self-evaluation is likely to yield the best answer. Stores issue credit cards in hopes that you’ll shop in their stores more frequently. They’re also betting that you won’t pay your full balance each month. Companies that issue credit cards make a lot of money from interest payments and late fees. Be cautious and avoid falling into those common traps. Store credit cards can be useful, if they’re used correctly. The savings can be great, but the interest rates are high. The value of store credit cards is largely dependent on using them responsibly and intelligently....

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Why You Need a Living Will

Jun 24, 2014 by

You don’t need to be an economics major to figure out that if health care is going up 10% or more every year while income is only going up 2-3%, things are not looking too good. It is entirely possible for a person to work their entire life and retire with a nest egg of $500,000 or more only to have it wiped out by one major medical issue. This is especially the case when machines must be used to keep you alive due to a severe injury or illness. It is in tragic times like these that a living will can be the difference between saving or breaking a family—economically at least. A living will is a legal document granting another person the right to cease treatment in the event a person becomes...

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How to Prepare Your First Budget...

Jun 24, 2014 by

No financial planner, no problem. The fight for financial freedom isn’t fair. No matter what kind of spin you try to put on it, the path to comfortable living seems either impossible or too long to attempt. Many people these days are spending copious amounts of money going to see professional financial planners for advice on how to get their money situation under control. But let’s be honest, while a financial planner can show you how to prioritize your spending and how to go about consolidating your debt, surely there must be a way to plan your finances that doesn’t cost you visits to a professional?  This article has been written to open some people’s eyes to the fact that it is possible to properly plan your finances from the comfort of your own...

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