How Can Bankruptcy Help to Avoid Wage Garnishments?

Wage Garnishments can be the kiss of death for consumers who are already barely scraping by. If your wages have been garnished and you feel like you are in this category, do not despair, you are not alone. It turns out that 80% of the employees in the United States are living paycheck-to-paycheck, and there isn’t anything left at the end of the month.

Creditors who are trying to collect on past due accounts or have a judgement against you will often attempt to collect on those debts through wage garnishment. Depending on the type of debt, wage garnishments can take one-quarter or 25% of your base take-home pay. This is the amount your employer will send to your creditor, and you’ll end up with the rest – a much skinnier paycheck. Problem is most people can barely make it on their current take-home pay, so taking 25% will cause a cascading effect, meaning you won’t be able to pay your other bills or worse, have no money left for food.

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How to Prepare for Your Bankruptcy Filing

There is a deep despair that creeps into a person’s life when they can’t meet their financial obligations. Don’t let the feelings of failure, anger, or hopelessness take hold of you. Oftentimes, unexpected twists and turns in life happen. Events that you simply couldn’t have planned for may be unaffordable, even if you had an emergency fund, especially if the emergencies all happen all at once.

When you come to the realization that you simply cannot keep up, there is hope. Bankruptcy offers relief for people just like you. Bankruptcy Attorneys can walk you through the process and make sure you don’t have to endure any more stress than needed.

First Steps

You may know what course of action to take, but taking the first step is the hardest part. Every person has a unique situation, so meeting with a Bankruptcy Attorney can help you work through the process. They will conduct the means test, and that will help you know which chapter of

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Lessons Learned From Bankruptcy

Even if you know that bankruptcy is the right choice, it can be discouraging to think about the long-term consequences you’ll need to face after your case is resolved. Most people look back on their bankruptcy as something they never want to do again, but a situation they learned from. After dealing with your debt in this way, you’ll no doubt gain wisdom that will help you in the future or even help your loved ones avoid the struggles you’ve gone through.


Budgeting will be a part of your bankruptcy case and will become second nature after your debts are taken care of. A Bankruptcy Attorney can help as they discuss your case they can see how to best help your situation, you’ll leave with a comprehensive list of tasks and documents to complete. The next step before filing your case, you’ll need to take an online Credit Counseling Course. This class will not only help you decide if bankruptcy is the right choice for you, but a large

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Consequences of Filing Bankruptcy

Bankruptcy can seem like an easy solution to debt problems, but it isn’t without consequences. It is true that many of your debts may be “erased,” but there is a price to pay for that freedom. I always advise my clients to explore every possible alternative to bankruptcy, from cutting spending and simplifying their lifestyle to selling unnecessary property and negotiating with creditors. Sometimes bankruptcy truly is the best option, so it’s wise to familiarize yourself with some of the possible consequences you’ll deal with after filing.

Negative Results

The negative impact that most deters people from filing bankruptcy is the lowered credit score. This can be a real problem when you need to apply for a car or home loan. You can take action to rebuild your credit and improve your score, but this takes time. You may need to start with a small, secured credit card that you pay off completely each month. If you need to take out a car loan ri

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Introductory Guide to Bankruptcy

Most of us don’t really think about bankruptcy until debt starts to creep up, and even then, bankruptcy may not immediately seem like the right choice. While it’s never wise to jump into bankruptcy without first exploring alternatives, this can be an effective tool for making a new financial start. It’s worth researching and familiarizing yourself with how bankruptcy works and how it may benefit you.

Who’s Involved?

There are several key people who are part of the bankruptcy process. The person who is in debt and needs to file bankruptcy is called the debtor, and those who are owed money are creditors. This could be individuals, banks, medical companies, or collection agencies, to name a few. A professional bankruptcy attorney can guide you through the process and ensure that your case is resolved without any trouble. Once your attorney helps you with your paperwork and files your case, everything will be reviewed by a court-appointed trustee. Y

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When Is the Best Time to Consider Bankruptcy?

No one really wants to file bankruptcy, it’s kind of like admitting you’ve failed. Still, if you are in a situation where you are borrowing more money just to eat and survive and simultaneously borrowing more money to pay off previous debt, filing for bankruptcy might be a prudent path forward. If you are unable to juggle all your current debt and have no prospects for increasing your income anytime soon then it is time to at least consider the concept.

Digging yourself deeper and deeper into debt won’t do you any good, nor is it fair to your current creditors or those you might seek out in an attempt to “take from Peter to pay Paul.” If you keep juggling too long, you are bound to see the whole thing come crashing down. You are much better off to enter bankruptcy with a plan. If you do it right you may find the entire experience to be far less painful than you could have ever imagined.

Filing Bankruptcy Will Give You a Chance to Start Ove

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Does Bankruptcy Discharge Tax Debt?

It’s no secret that being in debt is one of the most stressful life events one can experience. But for most types of debts, there are solutions. Many creditors, such as credit card companies and medical facilities, will be glad to set up payment plans for you to ensure your debt is taken care of. Some hospitals even have funding available for those who cannot pay their medical bills. You may also be able to discharge unsecured debts through bankruptcy. However, when it comes to tax debts, the federal government can be a little more difficult to work, and tax debts are not dis chargeable through bankruptcy. There are always exceptions, and a Bankruptcy Attorney can help you work with the government to take care of your tax debts.

How are Tax Debts Handled?

While you may not be able to discharge tax debts through a Chapter 13, the amount you owe will be taken into consideration as we design your repayment plan. You may be able to discharge back taxes when you file

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Useful Bankruptcy Advice

Deciding on bankruptcy isn’t the easiest decision. Many people see this option as a failure, but in reality it is a solution to help you get out of debt and enjoy a fresh start.

There are a number of different debt relief options available from consolidation loans to this option, which is why it’s important to do your research, determine what is the right choice for you and speak to a professional financial consultant to get the information and advice you need before making such a big decision, which will affect both you and your family.

There are many advantages and disadvantages to choosing bankruptcy to write off your debt. Understanding these advantages and disadvantages will help you make the right decision for you.

Looking at the advantages, you get a fresh start within twelve months. This type of option stays in place for around one year, after which you start your life anew, completely debt free.

Another advantage is that any unsecured

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Tips on Rebuilding Your Credit After Bankruptcy

Filing for bankruptcy is never an easy decision. Bankruptcy negatively affects your credit score and will stay in your credit report for at least seven years. An unfavorable credit score means taking out loans will not only be difficult, but more expensive as well. Most credit card companies slap a higher interest rate on credit applicants who have filed for bankruptcy.

It is possible, though, to rebuild your credit after declaring bankruptcy. It will take time and patience from the very first step. Remember how long it took you to run up the bills that led to your bankruptcy filing, and be prepared to give yourself at least that much time to work your way back to financial health. However, it is possible to be on the road to financial recovery in as little as two to three years after you receive the debt discharge from bankruptcy court.

Before anything else, know what your credit reports are saying about you. Everyone is entitled to one free credit report from the maj

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Tips for Credit Repair After Bankruptcy

Bankruptcy is something that no one needs to experience in their lives. Generally, individuals declare bankruptcy when they know there’s no other option to them. A man’s explanations behind declaring bankruptcy can shift incredibly, from losing an employment and having medical problems, to just running up excessively in debts without having the capacity to pay it back.

In this post, we will deal with some tips to follow for credit repair after bankruptcy.

Something that a person having declared bankruptcy thinks about the most is probably that how worse this action will prove on their future credit score. All things considered, your credit score is one of the most vital things that decides the kind of loans or Visas you can qualify for.

If you are seeking help regarding credit repair after a bankruptcy, here are 5 tips that can help you repair your credit quicker:

1. Bankruptcy can appear on your FICO report for considerable a

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