Credit card debt can snowball faster than you can keep up with, especially if you’ve been using your credit card to buy groceries and pay your utility bills. The reason this happens is because people don’t view credit card debt as actual debt – it’s “plastic money”, so it doesn’t really count. Defaulting on your

Bankruptcy offers you protection from creditors taking any further action against you, and this includes seeking a judgment against you once you’re in the process of seeking the court’s protection from creditors. However, an existing judgment against you can affect your bankruptcy filing depending on whether or not you’re a homeowner, or you are the

The purpose of filing for bankruptcy is to give you a second chance in life to make responsible financial decisions, and to use credit sensibly. The new requirement for pre-filing credit counseling and post-discharge debtor education aims to educate people in the proper management of their finances.   Not everyone learns from their mistakes though,

If you never learned how to make sound financial decisions, then there’s every possibility you don’t know exactly who your creditors are. As your debts mount you might find that your creditors “sell” your debt to other companies who will then attempt to reclaim the money owed by you. You could quite easily receive bills