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7 Steps to Get Your Debt Under Control Fast – Tips for Greensboro, North Carolina Consumers

Fast

You can get out of debt

Image Source: Flickr User Ted Partrick

If your debt is out of control, life can feel like an endless cycle of payday, paying bills, running short on cash, and waiting worried until your next payday. This is no way to live and can drain all quality of life. No matter how much debt you have, though, there is a path to conquer your debts. Consider these seven steps for getting debt under control – tips for Greensboro, North Carolina consumers and those in debt all across NC.

Greensboro, North Carolina Among Top 10 Places to Start a Business in the US

Small business

Want to start a small business - Greensboro NC is a top choice

Image Source: Flickr User Markus Spiske

Are you tired of punching the clock for someone else? Have you always dreamed of owning your own business? If this is you and you live in Greensboro, North Carolina, you’ll be pleased to know that Greensboro ranked among the top 10 best cities to start a business.

Paying Your Debts Can Lower Your Credit Score – Here’s Why…

Credit score

Some debts may be better left unpaid- here's why

Image Source: Flickr User Simon Cunningham

If you are planning on buying a house or car, but your credit score is too low to get an approval – or to get anything but a subprime interest rate – you know you need to clean up your credit report. But many consumers wrongly assume that the best approach is to tackle old debts that they feel are dragging down their FICO score. In fact, this may be the worst thing to do. Here’s why…

Do You Make Too Much to File Chapter 7 Bankruptcy? Income May Not Be a Barrier

Cash

Make too much for Chapter 7 bankruptcy? Maybe not...

Image Source: Flickr User Pictures of Money

Some consumers are under the impression that there is an income limit to be able to file for Chapter 7 bankruptcy to get help with unmanageable debt. The phrase “median income” is often misunderstood as is the requirement for the “Means Test.” Just because you earn a decent living – or even a high income – doesn’t mean you are ineligible for Chapter 7 – the most sweeping form of debt relief.

What to do When a Creditor Sues You for a Past Due Debt – 5 Steps to Protect Yourself

Debt lawsuit

Got a lawsuit notice for a debt? Check out these tips

Image Source: Flickr User Tracie Hall

If you have a debt you can’t afford to pay, and the creditor has moved past calling you and has decided to sue, you should not ignore this even if you can’t afford to pay the bill. Why? The court can award the creditor more than your true balance if their records are inaccurate – or you can end up with a lien on your property or bank account that leaves you at risk for further financial trouble. Here are five steps to take if you get notice of a creditor lawsuit.

5 Mistakes to Avoid If You’re Deep in Debt and Considering Bankruptcy

Five

Five things to avoid before bankruptcy

Image Source: Flickr User Nicolas Vigler

When debt piles up, and creditors start calling, you want to pay up and put an end to the stress. But often what happens is that consumers allocate their cash not to the bills that deserve to be prioritized but to those that have the most aggressive debt collectors working the case. This can lead to major money mistakes that can haunt you for years to come. If you’re so deep in debt that you’re considering bankruptcy, here are five things to avoid doing.

4 Reasons You Need to Get Rid of Your Credit Card Debt

Four

Four reasons not to rack up credit card debt

Image Source: Flickr User Jukka Zitting

Using credit cards is a fact of life for many people – they don’t think twice about swiping plastic for necessities, luxuries, or when they run short and cash for any reason. But in some cases, credit card use can spiral out of control and become burdensome for the consumer. Here’s a look at four reasons why you should get rid of your credit card debt.

7 Things to Know About Chapter 13 Bankruptcy – And How it Can Help You

Thirteen

Chapter 13 can help ditch debt and save your home and car

Image Source: Flickr User Taichiro Ueki

Many clients that come into our offices think of “bankruptcy” as a single debt relief option. But, in fact, there are two chapters of bankruptcy open to most consumers that can be used individually or in combination depending on your income, debts, financial goals, age, assets, and other factors. Today we look at Chapter 13 – one of the two options available to consumers along with Chapter 7 – and tell you seven key facts about this bankruptcy chapter and how it can help you.

Life After Chapter 7 – Better Than You Can Imagine – How Bankruptcy Can Improve Your Life

Happy life

Life is better without debt

Image Source: Flickr User Benjamin Staudinger

The worst part about being in debt you can’t afford and struggling to pay your bills is the stress of living from paycheck to paycheck, dealing with harassing calls from debt collectors, and feeling like there’s no way out. Even with all of these known negative consequences of excess debt, though, most consumers think that life after Chapter 7 bankruptcy will be worse. Today we dispel this misunderstanding.

Cancelled Debt Can Crush You – When Creditors Write Off Bills, Your Taxes Can Skyrocket

Income tax

Did you know canceled debts can cause more debt? Bankruptcy can help

Image Source: Flickr User Alan Cleaver

You may feel like it’s a “win” if a creditor or debt collector gives up on a bill they’ve been trying to collect from you and “charges it off.” However, that’s not the end of the story. Sometimes, a primary creditor will charge off a debt and still hand it over to a debt collector. However, once a creditor or debt collection agency decides to wash their hands on a debt and give up, it can cause a nasty tax surprise.

5 Things to Know if You’re Behind on Your Mortgage Payments

Foreclosure

Find out what your options are if you are late on your mortgage

Image Source: Flickr User Daniel Arauz

The idea of losing your home is scary – and if you’re late on your mortgage payments, have missed a few here and there and know you can’t make them up, you may be terrified of what comes next. There are several options available to you if you can’t make your mortgage payments that can help you save your home – or make a wiser decision about your living arrangements. Here are five things to know if you’re behind on your mortgage.

Can You Discharge Your Student Loans in Bankruptcy? You May Be Surprised at the Answer

Student loans

You may be able to get student loan help in bankruptcy

Image Source: Flickr User B Rosen

Doom and gloom stories in the press indicate that you simply cannot discharge student loans in bankruptcy. We’ve all seen the horror stories like a cancer patient being told that they should get back to work and pay their college debts or a permanently disabled person being denied a discharge despite the fact that they cannot work.

When Is Bankruptcy Better Than Trying to Pay Off Your Bills? Tips for North Carolina Consumers

Questions

Is your debt out of control? Can you really afford it?
Image Source: Flickr User Milos Milosevic

“Bankruptcy” is a word that can put people off and that scares many consumers. Admittedly, bankruptcy is not something to jump into and is not an option to take lightly, but it may be the best thing for your financial future. How can you know if bankruptcy is better than churning on with your debt? Here are some factors for North Carolina consumers to consider.

Creditors Can End Up Owing You If They Mess With You During or After Bankruptcy!

Stop

Put a stop to harassment by debt collectors

Image Source: Flickr User Kirsty Hall

One of the best things about filing Chapter 7 or Chapter 13 bankruptcy is the immediate end to debt collection efforts. From the moment your attorney files your papers, there is a 90-day automatic stay in most cases. What this means is that for three months from the date you file, creditors cannot – by law – contact you about your debts. And after your discharge, creditors can’t hassle you ever again about discharged debts. But some debt collectors break the law – and you should hit back. Not only can you put an end to the harassment, but you may end up with money in your pocket.

Government Changes Means Your Security Clearance May Be at Risk - Don’t Let Bad Credit Cost Your Job

Budget

2016 Government budget changed security clearance standards - are you at risk?

Image Source: Flickr User Tony Webster

The 2016 budget recently approved by Congress came with a caveat that agencies with personnel that possess security clearances must be screened more often and more aggressively. Credit problems can result in your security clearance being downgraded or pulled – and if your job requires a clearance, you can lose it.

New Study Shows Cancer Survivors Likely to Struggle With Overwhelming Debt - How Bankruptcy Can Help

Medical debt

Cancer treatment costs can be financially devastating

Image Source: Flickr User Pan American Health Organization

A new study published in Health Affairs, a journal on health care and policy, revealed that adult cancer survivors in their working years (i.e. younger than 65) often come out of their medical crisis with a financial crisis looming. This means the relief of conquering what is often a terminal illness may be short-lived once the debt stress takes over your life.

Greensboro Economy Coming Back Strong – More Jobs, Wages Up, Home Values Rising – Make the Most of Fresh Start

Greensboro NC

Greensboro is on the economic rebound

Image Source: Flickr User Taber Andrew Bain

Greensboro, North Carolina was one of the regions of the country hit early and hard by the recession as factory owners moved jobs overseas. This resulted in the shut down of furniture and textile businesses as the demand for furniture and rugs begin tanking in 2008 alongside a slowdown in the housing market. But now the economy in Greensboro is coming back strong – with a shift in production.

New Survey Shows Health Insurance Has Not Stopped Medical Debt – How Bankruptcy Can Help

Medical costs

Hit with medical bills you can't pay? There is hope!

Image Source: Flickr User epSOS

Since the Affordable Care Act hit in 2013, it’s true that more than 15 million Americans have enrolled in health insurance that were previously uninsured, but that doesn’t mean medical debt is no longer a problem. The New York Times and Kaiser Foundation conducted a survey recently and found that many consumers are still struggling to pay their medical bills, despite the increase in the number of people insured.

New Study Shows Best and Worst Bankruptcy Rates by County in North Carolina

North Carolina

North Carolina bankruptcy rates revealed

Image Source: Flickr User Kamoteus

A new bankruptcy study shows that prosperous Wake County, North Carolina is one of the worst counties for bankruptcy filings in the state – meaning more people, on average, file for bankruptcy there than many other counties in the state. Read on for a list of the best and worst counties in North Carolina for bankruptcies.

Poll Says Americans Think They Can’t Afford to Save But Want To – Here are the Top Excuses and How to Overcome THem

Poll

Read the latest poll results on savings goals

Image Source: Flickr User secretlondon123

Financial polls by GOBankingRates.com and FidelityInvestments.com show that many consumers want to do more financially in the New Year, and that means saving money. Most want to save, but think there are too many obstacles in their way. Here’s a look at some of the excuses not to save and how you can push past these hurdles to have a brighter financial future by saving today.

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