July, 2013

Bankruptcy Exemptions in Colorado (Part 1)

July 29, 2013

Those who file for bankruptcy in Colorado are required, per Colorado laws, to use state laws (rather than federal bankruptcy statutes) when claiming property and asset exemptions. These bankruptcy exemptions refer to assets and property that will not be liquidated as part of a Chapter 7 bankruptcy proceeding in order to pay off creditors (i.e.,…
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Why You Should Steer Clear of Bankruptcy Mills

July 24, 2013

Bankruptcy mills are companies that handle a large amount of bankruptcy cases and often cut corners, fail to keep their clients informed and ultimately fail to help their clients achieve the financial fresh start they are looking for. Unlike reliable, time-tested bankruptcy law practices, bankruptcy mills: Commonly have non-attorney staff handle clients’ sensitive financial matters…
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What to Ask Before Signing Up for Credit Cards (Part 2)

July 23, 2013

As a continuation of What to Ask Before Signing Up for Credit Cards (Part 1), here are some additional crucial questions that you should ask credit card companies’ customer service representatives before signing up for a new line of credit. By taking the time to ask these important questions, you can: Clarify the specific fees,…
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What to Ask Before Signing Up for Credit Cards (Part 1)

July 19, 2013

Although credit card companies and department stores have made it extremely easy for consumers to take out new lines of credit, it’s essential that you take some time to research each potential new line of credit before being lured in by enticing offers of cash back bonuses, frequent flier miles or other alleged rewards. Credit…
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When to Beware of Debt Consolidation Loans (Part 2)

July 17, 2013

As a continuation of When to Beware of Debt Consolidation Loans (Part 1), here is some additional information regarding what borrowers should be on the lookout for before they move forward with debt consolidation loans. Some of the potential risks and dangers associated with debt consolidation loans include that these loans: Can be associated with…
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When to Beware of Debt Consolidation Loans (Part 1)

July 15, 2013

For borrowers struggling with debt and who can’t seem to get ahead, the option of taking out a debt consolidation loan may be especially appealing, as companies that offer these types of loans may promise lower interest rates, a convenient once-a-month payment for all debt and overall lower monthly debt payments. However, with debt consolidation…
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Filing for Bankruptcy Can Stop Wage Garnishments

July 12, 2013

For borrowers who find themselves buried in debt, a common tactic that creditors use to try to urge these borrowers to make payments on this debt is threatening to – or actually – garnishing their wages. Unfortunately, however, wage garnishments can be financially crippling for borrowers who are already clearly having a hard time with…
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Tax Debts and Bankruptcy

July 10, 2013

Along with credit card debt and medical bills, tax debt is another primary financial woe that can cause borrowers to get behind on their mortgage payments, potentially have their wages garnished and ultimately need to seek out bankruptcy in order to achieve a financial fresh start. However, while debt like credit card debt and medical…
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Pros and Cons of Having Credit Cards (Part 2)

July 9, 2013

As a continuation of Pros and Cons of Having Credit Cards (Part 1), here is some additional information regarding the advantages and disadvantages of relying on credit cards for the majority of your financial transactions. While Part 1 focused on the cons of having credit cards (i.e., the benefits of using cash over relying on…
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Pros and Cons of Having Credit Cards (Part 1)

July 5, 2013

Although many people rely on credit cards to make their day-to-day financial transactions, an increasing number of people are choosing to forego having credit cards, opting instead to only use cash or their debt cards to buy things. The trend of moving towards not having any credits has been, for some, spurred by past accumulation…
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