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An obligation to pay debt is based on an agreement between the individual(s) and the creditor. A spouse is not responsible for the debt of the other spouse solely because of the marriage. If only one spouse contracted to pay a debt, than only that spouse is responsible for the debt. If both spouses are obligated and have contracted to pay the debt, than both spouses are responsible for 100% of the debt. If both spouses contracted to pay the debt, the creditor may pursue and collect any percentage of the debt from either spouse, but never in excess of the total amount due. In other words, the creditor may get 60% from one spouse and 40% from the other, or 20% from one spouse and 80% from the other… Continue reading

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You may feel stressed out of you have reached the max on your credit card bills and do not have enough money to pay them. You may even feel like if you can not get your finances under control then you may have to file for a Bankruptcy. There are some things you can do to avoid having to file bankruptcy and they will get you finances back on track and eliminate your debt. Even though you may be frustrated you need to take action and do something about your current situation so that you can get rid of your debt and sleep better at night.

It is always a good idea to only use your credit cards when you know that you can pay them off at the end of… Continue reading

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In these times of financial peril, with unemployment rising and property values falling like a sped up game of macro economic chutes and ladders, most every American feels the crunch of debt loads they had accumulated in happier times. Alas, as seems the eternal nature of credit freely given absent responsibility or the proven ability to repay obligations, capricious purchasing and sloppy household budgeting have effectively undercut our national character. The United States of America was built upon a tradition of self reliant labor independent of feudal allegiances, but, as the constant usage of credit cards and the accompanying unsecured debts grew alongside home mortgages and automobile loans, we may have lost track of an essential element of our native spirit by abandoning the steady accumulation of savings as an… Continue reading

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What is a balance transfer, and is it a good idea? A balance transfer means that you take the balance you owe on a credit card and transfer it to another credit card to save money. Many people transfer balances from credit cards that charge high interest to cards that charge less. Credit card companies offer great low introductory interest rates to get people to do that so they can have their business. It makes good sense if you’re going to save a lot on interest rates. And sometimes it can simply ease the burden of debt by putting all your credit card debt in one place.

What is a balance transfer offering you as far as debt relief? First, understand what APR is and how it affects your debt. APR… Continue reading

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Having a Bankruptcy is one of the most devastating things that you can experience. You may ask after I have this Bankruptcy will I be able to raise my credit score. There are things that you can do after you have a Bankruptcy that can help your credit score and financial situation. You need to get a copy of your credit report so that you know exactly what your credit score is. Next you want to look through the report to see if you have any items that should not be on your report.

When you are trying to get rid of negative items on your credit report you need to dispute all those items because it is up to the credit agency to verify if the item in question is… Continue reading

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Can I file bankruptcy online? That is your question if you can no longer handle your debt. The fact is while you can do much of the paperwork and the like online, ultimately you will have to file your petition at your local courthouse in person.

There are many websites and programs available that can help you through the process. A program called Public Access to Court Electronic Records (PACER), for instance, can give you access to the documentation and other information you may need. But only an attorney can actually file via the PACER system and even then only if that particular court will permit it.

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Should you hire an attorney? Well, if you already have one on retainer or one in your family that is willing to help… Continue reading

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