Personal Finance

03 Jun Budgeting After Bankruptcy (Part One)

Bankruptcy is about a fresh start, a new beginning. For many people, that means establishing good spending and saving habits. To be sure, not everyone who files bankruptcy does so because of spendthrift ways. But many do. And even those who file because of the big three causes (job loss, divorce, medical) could use some help with their budgets. "But I Hate Talking about Budgets!" Me, too. Let's face it: budgeting is about as much fun as a root canal. But sometimes both are necessary. The goal of these posts will be to come up with a streamlined, simple approach to budgeting. It's not ideal, but it's a whole lot better than bumbling through life with no goals or progress. And it's definitely not going to be as painful as a root canal.
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06 Mar After Bankruptcy Filing, Beware of Phony Debt Collectors Who Threaten Arrest!

Folks frequently come in to talk about bankruptcy and are very concerned that an arrest warrant may be issued as they haven't paid their debts -- either before filing bankruptcy or even after filing for bankruptcy. They have heard about phone calls or emails from debt collectors (or have even gotten those kind of threats) where the debt collector, usually one with a heavy accent, threatens immediate arrest for non-payment of a debt. This debt is usually an old payday loan or small debt that the debtor may have long forgotten. These phone calls are intimidating and threatening. However, arrest is unlikely in most circumstances says Jonathan Ginsberg, Atlanta bankruptcy attorney.
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19 Jan Top Ten Bankruptcy Myths Countdown: #8 Bankruptcy Will Ruin Future Credit

One of the concerns about filing for bankruptcy is that those folks will never be able to obtain credit again after filing for bankruptcy protection and assistance. Most times, nothing could be further from the truth as bankruptcy may actually improve folks' credit score, according to my clients' experiences (and as explained by Smart Money on their website). Every debt collection note on a credit report, every late payment, every negative notation affects a debtor's credit score. Bankruptcy? It doesn't add to the negative credit score;
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