Credit counseling is a service offered by nonprofit organizations, called credit counseling agencies, or credit counselors. Credit counselors work with you to develop a plan to reduce and repay your debt. These plans can be tailored to fit your situation and are often free. Credit counselors often work to negotiate lower interest and fees with  … Read more

This New Year is one like none other. For most people, improving their finances is a resolution that is set this time each year. However, this year a record number of Americans are facing higher than ever before credit card balances and problems making ends meet. Fortunately, there are some solutions to wipe out those  … Read more

In a year of turbulence and economic challenges, people are focusing on self-care more than ever. When it comes to taking care of yourself and your family, focusing on self-improvement and goals can be a great distraction from the day to day. Take, for example, the movement on “mindfulness”. Definition: “Mindfulness” – the quality state  … Read more

With employment numbers looking positive across a number of sectors in addition to lower taxes, numerous Americans have found themselves with extra money. For those who are carrying credit card debt, you may be wondering whether you should place it in saving or pay down that credit card balance. While every person’s financial situation is  … Read more

A credit counseling agency is sometimes sought out as an alternative to filing for bankruptcy. When you go to a credit counselor, you can expect them to review your financial situation and help you structure a plan to completely pay off your debt. A credit counseling agency will work to set up what’s called a  … Read more

Did you know that some debts aren’t eligible for bankruptcy, while others may be eligible but receive special treatment? While it is true that tax debts fit into one of these two categories they can actually be part of both categories, just not at the same time. In other words, there are times when tax  … Read more

One thing to understand when faced with a rising debt load and a shrinking income is to be very clear that your creditors do have the ability to seek recourse from the courts if a debt goes unpaid and there is no negotiating done on your behalf with the creditor. You can avoid these lawsuits  … Read more

In the past the question of whether or not filing for bankruptcy could impact your career would be a non-starter. Very few job postings would entail the process of a credit check. Unless you were attempting to secure a position in a bank, money management or government position that held responsibilities for the disbursement of  … Read more

It is not uncommon for individuals that have run into financial difficulties to take a second mortgage out on their house to help rectify their financial situation. Quite often this doesn’t work and only prolongs the step of entering into a bankruptcy action as a form of debt relief. In some cases homeowners might be  … Read more

After filing for foreclosure, it is important to understand the effects it will have on your credit score and future financial situation. While you won’t be knocked down forever, a foreclosure will put a pretty serious dent in your score. Speaking to a financial adviser can go a long way in helping you understand and  … Read more