When you are trapped under a mountain of debt, it can be so difficult to get out of it. A lot of people find themselves in a position where they can only afford to pay the minimum payments each month. It takes years to clear the debt and you will pay a huge amount of money in interest. But what happens if you can’t even afford the minimum payments? It might be that you have built up too many debts to handle or your financial situation has changed and you are no longer earning enough to cover the monthly payments. Whatever the reason, it’s a … [Read more...] about What Are Your Options If You Can’t Afford To Pay Your Debts?
We have a guest attorney here today to offer you some tips on avoiding bankruptcy. As someone who has "been there done that" while it might seem like a quick fix at the time, there are many downfalls. Hi, I’m David M. Offen, Esq. and I’d like to share with you four ways to avoid bankruptcy, from the perspective of a Philadelphia bankruptcy attorney who has seen it all. 1. Live Within Your Means By far, this is the most problematic area for individuals and for families. We are pitched services and products 24-7, and it is admittedly … [Read more...] about 4 Ways You Can Steer Clear of Bankruptcy
There are many reasons people fall behind in paying back their debts. Regardless of the reason, sometimes this leads a person or family to declare bankruptcy; they are not able to repay their debts.This is often seen as a negative thing. People will often scoff at those who file for bankruptcy. It is seen as a failure to manage your finances properly.In some ways, and in some situations, it is. At other times, filing becomes necessary through no fault of your own. Bankruptcy will also remain on your credit report for ten years. This will … [Read more...] about 4 of the Most Common Reasons People Resort to Bankruptcy