Some personal finance experts who shall remain nameless have made a career out of telling young, working adults that they could get out of debt simply by brewing their own coffee at home instead of stopping at a coffee shop on the way to work. Yes, the price of coffee shop beverages is astronomical, especially…

Expecting your fortunes to quickly and dramatically change for the better is not an effective way to deal with your debt situation, at least not if you also have a short-term strategy. Much personal finance advice falls into either of two categories; it either focuses on big decisions, such as filing for bankruptcy or getting…

Most people choose to finance the purchase of a car not because they want to impress people with a flashy ride they cannot afford but rather as a practical financial decision. With the amount of money that is sitting in your bank account, the most you can afford to pay full price for a car…

What Changes to California’s Homestead In a recent poll conducted by TheTrackr.com, 29% of Americans reported that their home was their most valuable asset. Homeownership plays a critical role during the bankruptcy process. The role that homeownership plays in the bankruptcy, however, is about to change substantially due to legislation that has been passed by…

Imagine that Mike is driving his car on the highway. Mike is in a rush because he is late to his son’s graduation. In his haste, Mike accidentally cuts off Steve while Steve is trying to change lanes. This causes Steve’s car, which is a brand new Ferrari, to go out of control and slam…

Debtors who seek a fresh start through bankruptcy will often have secured and unsecured debt. Usually, the unsecured debt is greater than the secured debt. Debtors generally have significant, unsecured credit card debt. With the advent of online lenders offering quick, unsecured debt to borrowers, those lenders will likely have hold significant claims in bankruptcy…

At times, life can be very unpredictable. No one sees a major medical emergency or illness coming. An extended stay in a hospital or rehabilitation center can alter your life and your family’s lives forever – not to mention are extremely expensive. Even for those of us with medical insurance, high-deductible insurance plans require that…

Understanding the difference between secured and unsecured debts is central to understanding the bankruptcy process. Chapter 13 and Chapter 7 Bankruptcy treat secured and unsecured debts differently. Secured debts generally survive the bankruptcy process, whereas unsecured debts are typically wiped away at the end of the bankruptcy. Often, whether a debt is secured or unsecured…

Consumer Debts vs Non-Consumer Debts There are many different types of debts in bankruptcy. Often the difference between whether a debt is secured or unsecured can be the difference between whether a person is able to get rid of that debt in bankruptcy. Another distinction which is particularly important in Chapter 7 Bankruptcy is the…