What does it mean when an account is reported as “charged off” on your credit report?
Consumers are often confused about what “charge off” means. People mistakenly believe they don’t have to pay back the debt after it is “charged off.” Unfortunately this is rarely true. Doing nothing about your charged off account(s) may come back to haunt you. Credit cards are the most common charged off accounts. When an account […]
6 Benefits of Filing Chapter 13 Bankruptcy
You’ve heard that Chapter 13 bankruptcy offers serious financial benefits, and you’re thinking of using those boons to regain your independence? That’s great, and yes, this bankruptcy is an excellent way to resolve your financial troubles. Of course, you should also ask around San Diego, CA, and find reputable Chapter 13 bankruptcy lawyers to help […]
Chapter 13 Secrets: Debts You DON’T Have to Pay
Many people find Chapter 13 confusing and counterintuitive since it is “debt reorganization” bankruptcy. The train of thought here is that they will still have to pay off every single penny of what they owe – just in a slightly different way and at a bit slower pace. So, why would they even hire a […]
Pros & Cons of Filing Chapter 7 Bankruptcy
Filing bankruptcy is a big step that has its benefits and drawbacks; hence, it is a decision that needs in-depth contemplation. Nevertheless, Chapter 7 bankruptcy is a powerful tool for debt relief in the U.S. Many corporations and individuals utilize it to resolve their financial crisis and obtain a fresh start; bankruptcy filings have increased […]