Millennials frequently face financial issues for two major reasons: they are entering the workforce during an economic downturn and are often uninformed about how credit works. You may not be able to do anything about the economy personally, but you can take charge of your finances by learning the smart way to use credit cards.
The statistics on bankruptcy may seem alarming, but the reality is that people do not choose bankruptcy - sometimes it is inevitable due to particular life circumstances. If you are confronting financial trouble, we know that it is not because you are irresponsible. Life happens, and some things are simply out our control. For example, these issues can abruptly alter financial stability.
How much will you leave to your children?
No two people have the same financial situations, which also means no two people handle their debts the same way either. It's a fact not lost on people in New York where the sudden loss of a job or serious illness or injury could just as easily create a challenging situation here as it could anywhere else in the country.
There are two basic bankruptcy tests for chapter 7 eligibility.
Her Divorce lawyer requested a bankruptcy analysis. The objective was to eliminate her credit card debt.
He wanted to file for bankruptcy because his pending divorce made it impossible to pay the mortgage, the credit cards, the lawyers and his living expenses.
Seeking a bankruptcy or non-bankruptcy solution to a difficult life, a single mother exiting from an abusive relationship sought my advice.P aul Hollender can help you get back on track although she came thinking about bankruptcy, I determined that she did not need to file for bankruptcy because she had only about $4,000 in credit card debt. I recommended returning for help in settling her debt if she could raise a lump sum to do so.