Just like success, being in a serious financial problem is a process.
Debt is a serious problem in the United States, with the average American household carrying a debt of $137,063. As a result, trying to make monthly payments is an ongoing nightmare for a lot of people.
Debt relief (also known as debt settlement) is the process where a debt settlement company contacts your creditors on your behalf to negotiate a better payment plan or settle or reduce your debt. If they’re able to agree, they charge a percentage of the amount saved on the settled debt as their fees.
It’s surprising how living in debt is quite the norm. At the moment, the total United States consumer debt is $13.86 trillion.
Debt relief offers a way through which you can get rid of your debt. However, to get the most of it, there are things you need to know.
How much debt do you need to have to declare bankruptcy?
The variables affecting the foreclosure process vary from state to state. But in general, the process begins if you’re three to six months behind your mortgage payment. Other factors like failure to pay property tax or keep up with house maintenance can also trigger the foreclosure process.
IRS will sometimes work a deal with those that their inability to pay stems from their lack of money and not because they were negligent or trying to evade payment.
Should you file for Chapter 7 or Chapter 13 bankruptcy?
Although debt relief programs are there to help you get out of debt, you need to fully understand how each option will affect your credit rating in the long run.
Creating an effective estate plan requires an adept understanding of several factors but many people fail to pay close attention to them.
No one likes being in debt, yet 80% of Americans are entangled in its web.
Creating an effective estate plan requires an adept understanding of several factors but many people fail to pay close attention to them.
Are you heading toward a debt crisis? Do you want to get out of one?
A well-written estate plan ensures that your assets are seamlessly transferred to your heirs and that your health care wishes are followed. Is yours ready?
Depending on your perspective – as a buyer or seller – short sales can be a great opportunity if executed properly.
In 2019 alone, roughly 752,160 bankruptcy cases were filed by individuals compared to just 22,780 for businesses.