The Federal Reserve has raised interest rates four times this year and nine times in the past three years. The latest rate hike of a quarter percentage point was just announced. While that's good news for people who have interest-earning accounts, it's troubling news for people with credit cards, home equity lines of credit, adjustable-rate mortgages and other types of debt with variable interest rates.
One of the primary concerns that people considering Chapter 7 bankruptcy have is whether they'll be able to keep their vehicles. After all, we rely on our cars to get to work, chauffeur the kids to school and other activities, go grocery shopping and so much more.
Chapter 13 bankruptcy can be a crucial first step out of overwhelming financial difficulties. Chapter 13 allows people to reorganize their debts and develop a three-to-five year repayment plan.
You filed for bankruptcy years ago. Now, due to a series of unfortunate events, you find yourself considering it once again. How soon can you file for bankruptcy a second time? How many times can you file for bankruptcy over the course of your life?
Falling behind on your taxes can happen very quickly, and tax debt is among the hardest to overcome. Not only are there few alternatives for eliminating tax debt, but the IRS has power to claim the money you owe without seeking the court order that most other creditors need. While the government gives you plenty of warning, you may still be shocked to discover how far the IRS will go to obtain the taxes it says you owe.