What Happens if You’re Too Broke to File Bankruptcy?


The fact that filing bankruptcy is a little on the expensive side is ironic. After all, most people who file bankruptcy are doing so because they are broke. What exactly does a person do if they need to file bankruptcy, but they are so broke they can’t? Dealing with Attorney Fees The biggest expense you have [...]

Will My Co-signer’s Credit Be Affected If I File For Bankruptcy?

Many people hesitate to file for bankruptcy for fear of harming their co-signer’s credit. Contrary to popular belief, it is possible to file for bankruptcy while keeping your co-signer’s credit fully intact, although this wasn’t always the case. Here is what you need to know if you have a co-signer and are considering filing for [...]

Can I Sell My Belongings Before Filing For Bankruptcy?

Can i sell my stuff before bankruptcy

There’s a lot of confusion about whether it’s OK to sell your assets before filing for bankruptcy. The short answer is yes, as long as you stay within the guidelines. Here’s what you need to know about selling assets before bankruptcy: It’s okay to sell—at fair value If you are about to file for bankruptcy, [...]

The 10 Best Money Saving Tips According to Twitter

money saving tips according to twitter

We’d all like to save on our daily expenses, but not all of us find joy in extreme couponing and penny pinching. Not to worry – we’ve gathered the best tips from Twitter that allow you to save money without losing your sanity. Here are the top 10 budgeting tips, according to Twitter: 1. Make [...]

Can I Be Evicted While I File For Bankruptcy?

Can a landlord evict you during bankruptcy?

Many people assume that the cost of filing for bankruptcy may interfere with paying for essential bills like rent and utilities, possibly leading to an eviction. The truth is that the Automatic Stay protection immediately stops the collection process for many existing debts, and may even provide protection from foreclosure or eviction. Here’s what you [...]

Left a Creditor off the Creditor Mailing List? Here’s How to Fix it

reminder to add creditors to mailing list

A creditor mailing matrix (or creditor mailing list) is an alphabetical list of all the people and companies to which you owe money. Any debts you owe to a creditor that are not listed in your creditor mailing matrix will not be discharged through your bankruptcy case. In bankruptcy proceedings, a notice that you’re filing [...]

Vince Young & Warren Sapp: A Play-by-Play Look at NFL Bankruptcy

NFL bankruptcy infographic

How exactly does one make $26 million and end up in the bankruptcy court? It’s all about money management skills. The amount of money you make doesn’t matter if you don’t have financial literacy. Below is a play-by-play breakdown of how NFL stars Vince Young and Warren Sapp went from making millions to losing everything: [...]

10 Fad Items We Just Had to Buy (And What They Really Cost Us)

basket with crocs

We’ve all probably bought into a fad at one point in our lives, but how much are we really spending on frivolous items when we add them all up? Take a trip down memory lane as we recall these once coveted items that are considered mere junk or clutter today. 1. Razor Scooters ($100) Debuting [...]

Can Debt Collectors Call You at Work? Know Your Rights

can debt collectors call you at work?

If you fall behind on your payments, your creditor may sell your debt to a collections agency or debt purchaser. While creditors and their debt collection agencies are allowed to take reasonable actions to collect money from you, the Fair Debt Collection Practices Act (FDCPA) grants you certain rights to protect you from harassment. The FDCPA [...]

My Credit Card Debt Was Sold: What Now?

What happens if your debt is sold?

Credit card companies are just like any other business – they’re in it to make money. Between the interest on your payment, late payment penalties,  and transaction fees, Visa, Mastercard, and other credit card companies make a profit in exchange for extending you a line of credit. Some of this profit is absorbed, however, by [...]