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personal bankruptcy Archives

How does personal bankruptcy impact a 401(k) plan?

When saddled with overwhelming debt, a North Carolina resident will likely consider his or her options for relief. One of the options he or she may consider is filing for bankruptcy. While many people consider this debt relief process as less than ideal, it can help individuals get their financial affairs back on track and have a more positive financial future. Of course, personal bankruptcy can have considerable impacts on one's finances and credit record, and parties may have concerns when it comes to their 401(k) plans.

Middle-class families increasingly the ones burdened by debt

When many people think of those who end up filing for bankruptcy or seeking other types of relief from debt, they imagine that it is only those who live in poverty or are unemployed that have such troubles. However, those with moderate incomes are increasingly feeling the financial burden caused by debt, for a few different reasons.

A look at the link between health care costs and financial woes

Health care is an issue that is extremely important to people in Durham and throughout the United States. It is also an issue that is currently in the spotlight as attempts are being made to undo some or all of the regulations stemming from the Affordable Care Act.

Some fear auto loans may be the next subprime crisis

After the Great Recession, which many people think was caused in part by subprime mortgage lending, buying a home became more difficult for many people in North Carolina. However, auto loans continued to be readily available and it appears that large numbers of people took advantage of this. In fact, according to CNNMoney, the number of auto loans is currently outpacing the number of home loans across the country.

What is the best strategy for paying down credit card debt?

People in Durham use their credit cards for a wide variety of reasons. Maybe you needed to make a big purchase like a new appliance or you needed to repair your car. Perhaps your income was lacking and you used it for everyday purchases. Credit card balances can grow very quickly and the thought of paying them off can be overwhelming. Here are to strategies to consider when deciding how to approach paying down your credit card debt.

The fate of the CFPB is in question

While no one likes to think that it could happen to them, consumers in North Carolina are sometimes treated unfairly or taken advantage of by banks and other lenders. Such deceitful practices are part of what led to the Great Recession and a great number of people felt the effects of the economic downturn.

If my spouse dies, will I be stuck with their credit card debt?

Dealing with the death of a spouse in North Carolina can be a devastating and emotional time. Unfortunately, when a loved one passes, there are also often financial considerations involved. If your spouse had a lot of credit card debt when he or she passed, you may become responsible for it but only in some situations.

A look at the difference between credit scores and credit reports

In may be beneficial for people in North Carolina who are dealing with a lot of debt to monitor both their credit score and their credit report so that they can have a complete picture of where they stand financially. However, not everyone understands what their credit score is and how it is different from a credit report. Here is some useful information on what they are and why they are important.

Debt is on the rise for many American families

Like many people across the United States, residents of Durham may find themselves deeper in debt than they were a few years ago. While a number of factors play into why this may be, it is never easy to be struggling to pay outstanding balances, and many people often feel hopeless and frustrated about their debt.

Are there differences in how men and women approach debt?

Everyone in North Carolina has their own way of dealing with money. Some people are very responsible and never run into any trouble, while others struggle with it or find themselves facing problems through no fault of their own. When it comes to debt, it does appear that there are some differences in how men and women approach their finances.

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Durham Office
3200 Croasdaile Drive
Suite 504
Durham, NC 27705

Toll Free: 800-610-3643
Phone: 919-794-8660
Fax: 919-382-2042
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Henderson Office
1775 Graham Avenue
Suite 104
Henderson, NC 27536

Toll Free: 800-610-3643
Phone: 919-794-8660
Fax: 919-382-2042
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