A new survey published by Bankrate.com, a personal finance website, found that only 39 percent of Americans could cover a $1,000 emergency expense. Job loss, surprise medical bills, property damage or a chronic illness could very easily upend the financial lives of these individuals. There are many, many ways to prepare for a financial emergency.…
Bankruptcy
What Do I Need to Know About Bankruptcy?
Millions of Americans are living with limited savings, and the need to declare bankruptcy can come without any warning. One emergency room visit or the loss of a job could send you over the edge. The Federal Reserve found that in 2016, nearly 46% of American families would struggle to pay emergency expenses of just…
5 Myths About Bankruptcy (and How They're Wrong)
You may feel like filing for bankruptcy is the lowest place you could be, but it’s just not true, and you aren’t alone. Well over a million Americans file for bankruptcy each year, yet most people don’t know much about bankruptcy. Let’s separate the facts from the fiction. The Most Common Myths About Bankruptcy Bankruptcy…
Should I Start Preparing for Christmas 2017 Now to Avoid Holiday Debt?
As we make our way through another holiday season, the last thing many of us want to think about is next Christmas. However, that may be exactly what we need to be doing to help us avoid racking up holiday debt in 2017. In the midst of the holiday season, or even leading up to…
Should You Talk to Your Children About Your Bankruptcy?
Deciding whether to talk to your children about your bankruptcy is a personal decision that will depend on your unique circumstances. Many parents want to protect their children from money issues at home, but there is also a case for transparency. Here are some thoughts to consider as you make your decision. When Should You Talk…
4 Common Bankruptcy Myths
Misunderstandings in our culture have led to many prevalent bankruptcy myths. Some mistakenly believe that if a person files for bankruptcy it must mean that they made poor choices with their money. This is not always true. Many file for bankruptcy because of medical bills, divorces and other problems that may be beyond their control.…
