You’ve borrowed debt, so you’re expected to pay it back, eventually. But for now, you have the liberty to build up debt, consequently building up your credit score, and make some necessary purchases. However, many people lose track of how much debt they’ve accumulated...
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Durham Bankruptcy Law Blog
Were you subjected to unfair debt collection practices?
On Behalf of Wootton & Wootton, P.C. | Oct 13, 2022 | Debt Relief
If you have fallen behind on your car payments, your mortgage, or any other bill, then creditors will probably pursue you for repayment. It’s perfectly legal for them to do this, but they can only do so within the confines of the law. Under the Fair Debt Collection...
Preparing for bankruptcy: 3 important steps
On Behalf of Wootton & Wootton, P.C. | Sep 30, 2022 | Personal Bankruptcy
Dealing with creditors’ calls and intimidations can be frightening and stressful, to say the least. If you are struggling with debt, one of the options you can consider is filing for bankruptcy. However, it is important to understand that bankruptcy is a legal...
Credit cards trick you into spending more
On Behalf of Wootton & Wootton, P.C. | Sep 14, 2022 | Credit Card Debt Relief
If you consistently use a credit card to make purchases, one potential trap that you can fall into is simply spending more than you can afford. Some of this may be due to simple mistakes in budgeting, but the truth is that psychological manipulation is being carried...
Have your credit card debts become overwhelming?
On Behalf of Wootton & Wootton, P.C. | Sep 1, 2022 | Credit Card Debt Relief
Credit cards can be handy when making routine purchases. They are also useful if you face an unexpected expense. Unfortunately, there are some drawbacks. Occasionally, individuals become too reliant on credit cards and fall into debt as a result. Sometimes, these...
How bankruptcy can help those who’ve missed car payments
On Behalf of Wootton & Wootton, P.C. | Aug 22, 2022 | Debt Relief
Financing your vehicle is often a practical decision. You may not have the cash resources to buy a vehicle with what's in your checking account. A vehicle loan can help you afford to buy a vehicle, and you can purchase something in much better condition with the help...
3 signs it is time to consider filing for bankruptcy
On Behalf of Wootton & Wootton, P.C. | Aug 15, 2022 | Personal Bankruptcy
If you are struggling to pay your bills, have had an unexpected life event or are overwhelmed by debt, then you need to consider seeking a fresh financial start. One debt relief option you can consider is declaring bankruptcy. People declare bankruptcy for a variety...
What is the role of a bankruptcy trustee?
On Behalf of Wootton & Wootton, P.C. | Aug 4, 2022 | Chapter 13 Bankruptcy
The decision to file for bankruptcy is one that can set you on a new financial path. This is your chance to have a fresh start, but the process might be mystifying for some individuals. One thing that you might be curious about is what the bankruptcy trustee does....
Will you be eligible for credit after bankruptcy?
On Behalf of Wootton & Wootton, P.C. | Jul 16, 2022 | Personal Bankruptcy
Your credit score can affect almost every part of your life. You will pay more in interest on a mortgage when you have a bad credit score and also more for car insurance. You may have a harder time getting well-paid positions at companies or qualifying for a promotion...
A small amount of student debt has been forgiven
On Behalf of Wootton & Wootton, P.C. | Jul 1, 2022 | Debt Relief
In recent years, there has been a lot of talk about reducing student debt or eliminating what students owe after they graduate. For the most part, none of this has actually occurred. But a very small portion of this debt has recently been eliminated. The debt revolves...
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