Archive for the 'Bankruptcy' Category

 Elderly Mom Destitute With Credit Card Debt

By Erica Sandberg Erica, My mom is 77 years old. She lives in a one-bedroom apartment and has no assets (no car in her name, no IRA, no stocks, no retirement income, absolutely nothing). She lives entirely off her Social Security check each month. However, she managed to rack up about $15,000 on a credit [...]



 Dear Kim: Chapter 7 vs. Chapter 13
What’s the Difference?

Dear Kim, I am very confused, and I was hoping you could help me. I am in a lot of debt and the credit counselor I spoke with suggested that we investigate bankruptcy. I know my sister filed Chapter 7 bankruptcy about 15 years ago, but I know things have changed since then. I also [...]



 NFCC and United Way Worldwide Join Together to Help Financially Distressed Consumers

The National Foundation for Credit Counseling, Inc. (NFCC) and United Way Worldwide (UWW) each have a commitment to ensuring that individuals and families experiencing financial hardship have access to quality financial education, appropriate financial products, accredited counseling services and financial assistance. The two organizations are pleased to announce that this shared commitment has resulted in [...]



 NFCC Launches Revamped and Retooled Online Counseling Request System

Even though the nation’s economic condition is slowly improving, many remain financially distressed and in need of legitimate help to resolve their situation. To better assist these consumers, the National Foundation for Credit Counseling (NFCC) revamped and retooled its online counseling request mechanism. The new system gets to the heart of the matter quickly and [...]



 Recovering from Bankruptcy

Getting on with one’s financial life after bankruptcy can be pretty hard.  Bankruptcy has either completely or partially discharged your debts. On the other hand, your bankruptcy also will have some unpleasant side effects. But the most important fact about your bankruptcy is that it has given you an opportunity to retake control of your [...]



 Bankruptcy: What You Need to Know Before You File

Bankruptcy offers benefits, but it also carries significant consequences. The decisions you make when facing financial difficulty will affect your life for many years to come, so it is important to approach the issue of personal bankruptcy with care. More Than One Way Out does not provide “right” or “wrong” answers because the solutions to [...]