When you're diagnosed with cancer, you're concerned with how progressed the cancer is and what the best treatment options are. There may be months or even years of surgeries, chemotherapy, radiation and other treatments in your future.
Suddenly finding yourself in a tough financial position can be very confusing and frightening. You may also feel like an outcast, while you watch your friends and family sail through life without worrying about money. On the bright side, you are not alone. You are one of many that have found themselves drowning in debt due to unexpected medical expenses or a company downsizing.
If you find yourself considering the benefits of bankruptcy, it's important to learn more about both Chapter 7 and Chapter 13.
When most people declare bankruptcy, it's after months of emotional and financial struggle. Many have tried to keep afloat by selling off retirement assets, not realizing that bankruptcy could have protected those assets. Most people try everything they can think of before bankruptcy.
Bankruptcy is huge, no matter your age, but it's arguably more important as you grow older. You have less time to deal financially with your debt before retirement, and you must know all of your options. This is becoming more relevant for baby boomers, and here are five key things this generation needs to know.
Many elderly individuals depend on Medicare to help them cover their expenses for medication, treatment, and examinations. Unfortunately, more and more of these people are getting hit with surprisingly high medical bills due to the Medicare Advantage program. In fact, many members of the baby boomer generation find themselves filing for bankruptcy as a direct result of Medicare Advantage.
Many Kentucky residents who are overwhelmed by their student loan debts are often tempted to turn to debt relief agencies for help. However, state attorney generals are now suing many of these agencies for unlawful business practices. In early May, five debt relief agencies were sued by the attorney general of Illinois for breaking state laws.
Kentucky residents may be aware that the Credit Card Accountability Responsibility and Disclosure Act, which was passed in 2009, placed a number of new restrictions on credit card companies. One of the most significant changes brought in by the law was a strict set of rules governing when an issuer could increase interest rates and by how much the rates could go up.
Kentucky residents who are struggling with their financial obligations may wish to learn more about the differences between debt settlement and credit counseling companies. Although the two may seem similar, there are important differences that can influence how negotiations with creditors are handled.
While the end of year draws celebrations and family gatherings, many individuals are confronted with a reality of financial challenges that will continue to loom after all the confetti and party favors are cleaned up and disposed. Credit card debt is a common worry and cause for stress, especially for people in Kentucky facing unemployment. Increasing expenses, an inability to pay interest and lack of income often results in collection companies calling at all hours.