It can happen very quickly. One day you are financially responsible and taking care of all your bills and then an unforeseen medical emergency changes everything. By the time you experience an ambulance ride, hospital stay, operation and recovery, you could be in substantial medical debt from what your health insurance did not cover.
The most powerful aspect of declaring bankruptcy is the automatic stay. So, what is it and how does it work? At the moment your bankruptcy case is filed with the court, the automatic stay goes into place. It prevents creditors from calling, lawsuits from being filed against your name, and if you have a pending foreclosure sale in the works, the sale must be cancelled.
If credit collectors, attorneys or buyers are knocking at your door, you probably have a debt to answer for. But, between the different terminology you may hear, it can become confusing to know how much you owe and whether you're still in debt.
Read on to learn more about what the following debt terminology means.
If you’ve fallen into a financial pit you just can’t seem to dig yourself out of, it’s time to consider your options for help.
Chapter 7 bankruptcy is a great way to halt creditor’s collection efforts and wage garnishment immediately. However, it may not be the best choice for everyone. Here are the pros and cons.
If you are in debt, it may seem like the weight of it is following you around wherever you go. Does this ring true when you pass away? You may be wondering, “what happens to my debt when I die?”
If you think you may be in debt when you pass, you are not the only one. Reports show that over 70 percent of Americans are in debt when they die. Many individuals had debt of student loans, car loans and credit card debt remaining.
Managing your finances can be difficult and everyone is vulnerable to unexpected expenses. Maybe you suffered an accident and have piling medical bills or maybe you have too much credit card debt.
You might have heard filing for bankruptcy can help you out of your problems, but do you know what actually happens when you file? How can bankruptcy really help you with your financial troubles?
Estate planning helps us make decisions to secure our assets and make matters easier on our children and loved ones after we pass.
However, if you have debt, you may worry that your passing will put an emotional and financial burden on your children. Here are a few ways that the debt of a person who has passed is handled in Arizona.