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How filing for bankruptcy affects your debt

Bankruptcy is a viable option for many people who are drowning in different types of debt. Whether it is credit card debt, medical debt, or an inability to keep up with other loans such as car payments or a mortgage, bankruptcy filings affect different types of debt in different ways.

What to do if you are feeling the bankruptcy blues

If you have recently gone through a Chapter 7 or Chapter 13 bankruptcy, you know that there is a whirlwind of emotions that comes with the process. You might feel a sense of relief that it is finally over, as well as hope for your financial future. However, you and other New Yorkers who have gone through financial struggles may be feeling mostly negative emotions.

How to bounce back from credit card debt after the holidays

The holidays are a time of year for fun and festivity, but it is also a time when Americans take on a lot of credit card debt when compared to other times of the year. The average American took on just over $1,000 of debt during the holidays in 2016, which was an increase from $986 on average in 2015. 

Take what creditors say with a grain of salt

If you have been struggling with debt, chances are that creditors have come calling in hopes of getting their money back. Of course, laws on both the federal and state level limit what they can do. For example, the federal Fair Debt Collection Practices Act does not enable collectors to threaten violence or arrest or to call you between 9 p.m. and 8 a.m. State law builds on these protections, saying that creditors cannot tell your employer about why you are in debt, among other matters.

3 steps you can take to protect your credit during divorce

Divorce not only takes a toll on your emotions but your finances, too. Those co-signed loans and shared accounts that were once a sign of your romance now cause you immense stress. While you will figure out certain financial problems in your divorce agreement, a lot of things can happen before then, particularly regarding your credit.

3 facts about credit card debt statute of limitations

Credit cards are one of the most common causes of debt accumulation in the U.S. Some people overspend while others lose their income, but no matter what events lead to your situation, confronting the problem is the first step to resolving it. Many people think that if debt goes into collections, it will be absolved after the statute of limitations passes.

Should you file for bankruptcy for credit card debt relief?

Filing for bankruptcy is a big financial decision that should be carefully considered. When you have a lot of credit card debt and are in financial turmoil, it can be difficult to sort through all your options and figure out what is best. Bankruptcy is one possible route you can take.

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