Financial Advice: What to Discuss Before Marriage (Part 2)
Discussing household expenses and bank account situations are two financial matters that are important to hash out prior to getting married. Continuing from Financial Advice: What to Discuss Before Marriage (Part 1), here are some additional financial matters to discuss with a potential spouse prior to getting married. Although discussing finances is not romantic and can, in fact, be touchy or awkward, it’s crucial that couples who are considering marriage take the time to understand each other’s financial situations so that they don’t run the risk of developing serious financial problems later that could push them towards divorce. [...]
Financial Advice: What to Discuss Before Marriage (Part 1)
Some essential financial issues to discuss before marriage include current debt that you or your partner may have, as well as your respective credit ratings. Although marriage can be a beautiful bond between a couple, the reality is that: Most marriages end in divorce. Finances and money issues are often involved in divorces. Divorces are a significant contributing factor when it comes to bankruptcy. Given these facts, it’s essential that couples who are considering marriage discuss some essential aspects of both of their financial situations prior to marriage in order to ensure that they are fully aware of [...]
Bankruptcy Exemptions in Colorado (Part 2)
Bankruptcy exemptions, which are set by Colorado laws, include possible exemptions for personal property, pensions, other benefits and a debtor’s wages. Continuing from Bankruptcy Exemptions in Colorado (Part 1), the following are some additional bankruptcy exemptions that debtors can claim, according to Colorado law, when they are filing for Chapter 7 bankruptcy. These bankruptcy exemptions represent property and assets that debtors will be allowed to keep because they will not have to include them in the listed assets of their bankruptcy estate (which would make them eligible for liquidation in order to pay off creditors). Personal property – [...]
Bankruptcy Exemptions in Colorado (Part 1)
Bankruptcy exemptions allow debtors to keep certain property and assets when filing for bankruptcy. They include some exemptions for debtors’ homes and cars. 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., debtors can keep these exempt assets). Although these values for these exemptions are frequently updated, the following are some of [...]
Why You Should Steer Clear of Bankruptcy Mills
Bankruptcy mills can bungle borrowers’ bankruptcy cases, potentially pushing them into more financial trouble than they were prior to working with these unethical institutions. 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 Rarely have licensed bankruptcy lawyers overseeing such staff Tend to heavily advertise on television, the Internet, etc. by offering [...]
What to Ask Before Signing Up for Credit Cards (Part 2)
By asking some of these questions regarding a credit card’s terms and conditions, you can avoid being stuck with credit cards that have expensive costs and fees. 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, as well as the terms and conditions, associated with a particular credit card Effective shop around [...]
What to Ask Before Signing Up for Credit Cards (Part 1)
Before signing up for a credit card, be sure to ask some of these questions in order to clarify all of the fees and costs associated with having that card. 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 cards, like other forms of borrowed money, tend to come with strict terms [...]
When to Beware of Debt Consolidation Loans (Part 2)
Expensive hidden fees and high interest rates are some things to beware of before securing debt consolidation loans. 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 expensive service fees – As with any service, it’s crucial to look at the specific service fees and various costs in the fine print in [...]
When to Beware of Debt Consolidation Loans (Part 1)
Borrowers considering debt consolidation loans should take the time to understand what they are getting themselves into in order to avoid burying themselves in deeper debt. 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 loans, the old cliché – if it seems too good to be true, it probably is – [...]
Filing for Bankruptcy Can Stop Wage Garnishments
Filing for bankruptcy can stop creditors from garnishing borrowers’ wages while also allowing borrowers to discharge many of their outstanding debts. 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 their finances, and if creditors are able to come through on their threat of wage garnishment, the effects can be financially devastating [...]
