Bankruptcy-make it not your portion.

People filing for bankruptcy are not happy about it and it is not an excitement period for them. Finding a bankruptcy attorneys are not like shopping for christmas gifts or looking for new houses. It is a period of shame, distress, and fear of not knowing the future. Have you woke you in the morning and you do not know what to eat, wear, sleep, and plan for your future. Bankruptcy does not avoid good or bad people, it only targeting those who are not financially responsible. So many great people have gone through bankruptcy and recover fully in their financial standard. What makes some people to fully recover financially after bankruptcy while others still in financial ruins without hope? If you filed for bankruptcy before you can still achieve success and find a financial pathway to freedom. Remember, there are federal laws to protect you during bankruptcy and the bankruptcy will be reported on the credit report for the next 7-10 years. In addition, when you file for bankruptcy, creditors have to stop collecting money from you. Creditors would not write you, call or sue you after the filing of bankruptcy. In addition, bankruptcy will be able to stop any foreclosure, repossession of any property or garnishment of your wages. Unsecured debts do not qualify for bankruptcy like federal or state student loans, child support, and IRS debt. Most people who filed for bankruptcy have lost all faith and hope for a better financial future.

Ways to not getting into bankruptcy:
1). Taking care of the four walls: Transportation, Utilities, Clothing, Food, and Shelter.
2). Sell things you do not need.
3). Live within your means, but below your earning power.
4). Use a budget and get a second or third job.
5). Get a financial coach.

Comments

Post a Comment

Popular posts from this blog

How Smart People Plan Accordingly For Their Retirement.

Do you know anyone who is considering retirement and do they have a healthy nest egg? How did they achieve their nest egg? They are not financially smart like Warren Buffett or hold the secret solution to retiring comfortably. They did not play the Russian roulette with the stock market or watch it every single day. People who are ready for retirement constantly make contribution towards their investment and saving plans for every month. They are very responsible with their spending and intentional savers in their daily lives. They use the help of professional financial advisor to achieve their goals. The Secret of Saving for Retirement Successfully are listed below: 1). Use your biggest wealth building tool to your financial advantage. 2). They keep their expenses low. 3). They invest 15% of their income. 4).  They do not fund any expenses without referring to their budget. 5).  They meet routinely with their investing professional. 6).  Have a plan and update ...
Read more

The Mistakes We Make everyday About Money.

Here are some of the mistakes we make everyday: It can be cars that we cannot afford, personal loans or house mortgage causing people to file bankruptcy. Here are some money myths that will keep you broke and not compete in today's society. So, why are people still making money mistakes and not changing their ways. Most people are still mismanaging their money and still blaming the society for not setting a law. Please, do not buy into the society popular money myths. Here are some myths that are bad for your money. 1). Debt is a tool. 2). Car payments are a way of life. 3). Loaning money to your family show you care. 4). You cannot go to college without student loans. 5). You can make enough money to catch-up on your retirement. 6). You already understand spending your money, so you do not need a budget. 
Read more

Money and Relationship.

Do you think that most couples argument is about money? The recent survey shows that 63% of couples think that their significant other overspends in many ways, according to TD bank. Money is the leading cause of fight and divorce in North America. Those little fights can cause serious marital problems as time goes on based on the National Council on Family Relations. It is extremely important to figure out how to argue with your significant other in a productive way. In addition, to cultivate a solid marriage and relationship, it is essential for couples to take time to work on their relationship and money. Marriage brings people from different backgrounds and different life experiences together, if they can succeed they need to work on their money and relationship daily. Whether couples realize it or not, money issues can cause havoc in relationship and lead to a fail marriage. The Seven Area of Conflict in Marriages: 1). Separate but equal. 2). Lifestyles. 3). Personality Diff...
Read more