Mortgage lenders can now use a credit score called VantageScore 4.0 as part of their consideration for approval. That means mortgage lenders can consider rent and utility payments if that information is available. Those were not previously factored in. If you have previously received a bankruptcy discharge of your debt, paying your rent and utilities  … Read More

What is a consumer debt? Consumer debts are for things needed for personal, family of household purposes. Health care is a consumer debt. As the price of health care increases, the amount of people unable to afford their medical bills has gone up. A federal court blocked a rule that was designed to protect people  … Read More

Consumers are feeling the pinch of higher prices for food and cars. The price of new cars and trucks has increased more than 33% since 2020. The average monthly payment is now more than $750.00 per month. Consumers are borrowing more to cover car costs, and taking out longer loans. 100 month loans are no  … Read More

Student loan repayment enforcement will being garnishing pay checks in January, 2026. Student loan borrowers in default could see wages garnished starting January 7, 2026, according to the Department of Education. Borrowers will begin receiving notices informing them of their status. This ends a five year reprieve on student loan repayments. Tax refunds and other  … Read More

As of now, medical debt can still be reported on credit reports and lenders can consider this information when making lending decisions. Debtors under $500.00 will not be reported and debts cannot be reported until a hear has passed after the first collection notice is sent. Contrary to what some people believe, medical debt can  … Read More

There are plenty of websites that say they will help you determine if you qualify for bankruptcy. What they mean is, do you pass or fail the means test. The means test is a backward looking test of your income and will help determine if you have money to pay your creditors. Beware of these  … Read More

If your monthly expenses are greater than your monthly income, and what you own is limited in value , Chapter 7 bankruptcy will allow you to discharge your debt and get a fresh start. If you are married and only you have debts, your spouse does not need to file with you.

In Chapter 13 bankruptcy you can keep your car and your home. If you are behind in the loan, you may catch up with any missed payments and continue making regular payments. We will prepare a detailed plan to restructure your debts. We can stop lawsuits and foreclosures in Chapter 13 bankruptcy.

If you have been overpaid by Social Security after March 27, 2025 you will be placed in full recovery at a rate of 100 percent of the Social Security payment. This is a change from the previous policy that only withheld 10%. This does not apply to SSI. Bankruptcy can typically discharge a Social Security  … Read More