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Rogers Bankruptcy Law Blog

Know what options you have for credit card debt

Credit card debt can be difficult to pay off once you have a significant balance accrued. One thing that can make this even worse is that you are having to pay for the interest and possibly other charges associated with the accounts. Some Americans might look at their credit card accounts and realize that they've bitten off more than they can chew, partially because of the holidays.

There are several ways that you can attempt to get out of credit card debt. It might not be easy, but learning a bit about credit accounts and taking a good look at your finances might give you an idea of what you can do.

Get to know how bankruptcy can help you eliminate debt

Chapter 7 bankruptcy is one kind of bankruptcy you can choose if you are struggling to pay your bills and are overwhelmed with debts. Chapter 7 bankruptcy isn't the only option, but it is the type of bankruptcy most people think of when they consider entering into bankruptcy.

Known as liquidation bankruptcy, Chapter 7 requires you to sell assets to pay back debts. Once everything that can be sold is sold, any additional debts are discharged. There are, of course, some debts you cannot eliminate this way, such as student loans or federal taxes. To deal with those debts, you may need to speak with your attorney about alternatives such as negotiating or applying for specialty assistance.

Take control of your finances in 2019

Now that 2019 is here, some people have already set their resolutions. For some, the goal is to become financially stable. While this is possible through hard work for some, there are others that might be so far deep in debt that there just isn't a way out without some serious help. This help might come in the form of a bankruptcy case.

We know that most people don't open credit accounts with the ultimate goal of filing for bankruptcy. It is still important for you to know that this option is available if you do need to use it. One of the things you will have to figure out if you are considering filing is what type of bankruptcy you will file. This can have a big impact on how you have to handle the matter.

Is there any way out of medical debt other than bankruptcy?

It's difficult to hide the shock of reading a medical bill for the first time. What you expected to be a $500 bill might be closer to $5,000 or even $50,000, especially if you had to be treated outside your insurance company's network.

Many people find medical debt hard to deal with because of its size. When you read a bill for $200 or $300, it's usually possible to see where you'd get money to pay for it. A bill for $4,000, similarly, is not insurmountable. However, once a bill reaches $10,000 or more, many people begin to worry that they'll never be able to pay it off.

Don't start 2019 off being arrested for drunk driving

With the New Year's Eve parties right around the corner, it is imperative that everyone who is going to have alcohol sets a plan for making it home at the end of the night. Without this, it is totally possible that you will have to drive after you've had a few drinks. This could result in you spending the first day of 2019 behind bars. We know that this probably isn't how you want to start the new year off.

You should realize that the police officers who have the duty of keeping the streets safe on this night are going to be watching how drivers are handling their vehicles more than usual. This isn't a night to take your chances with this type of situation. Instead, find a ride. Call a friend or even a ride share.

Bankruptcy is a tool that can help improve your finances

It is time for people to start thinking about the financial state they want to have in the new year. One thing that isn't conducive to a good financial future is having a lot of debt. If you are swimming in debt and can only make the minimum payments or less than that each month, you might need to file for bankruptcy.

We know that this is a big step for you. There might be some questions that come up in the process. We are here to help you sort through these, so you can have an accurate account of what is going to happen and what the process will be like. We also want you to learn how the bankruptcy might impact you in the future.

Can Chapter 13 bankruptcy help resolve your debts?

Chapter 13 bankruptcy is an option if you make too much money to go through a Chapter 7 bankruptcy. This form of bankruptcy allows you to make installment payments over the course of three to five years. During that time, a trustee takes the single payment and pays creditors. At the end of the term, any remaining debts are discharged.

A couple of the benefits of Chapter 13 bankruptcy are that it's fairly inexpensive and gives you an opportunity to pay back some, but not all, of the debts you've accrued. Instead of being weighed down by all the debts you have, the court allows them to be settled for less. Additionally, you'll make only one payment a month, which is much easier than multiple payments would be.

Prepare for financial security if you have to file bankruptcy

As the new year approaches, some individuals are going to try to determine how they can regain control of their finances. For some, the future doesn't look promising. These individuals might ultimately decide that filing for bankruptcy is the key to a secure financial future. This is a responsible option to help deal with overwhelming debt.

If you are preparing to file for bankruptcy, make sure that you are ready for what is going to come. Some of this depends on what chapter you will file, but you should be prepared to live off your own income for the next few years since credit isn't going to be possible for a bit.

Some defendants need more than just punishments

There are many reasons people might face drug charges. For possession charges, addiction is a likely issue. For charges related to selling, there is a chance that the person might have just needed quick money to take care of life's necessities. Unfortunately, having to face criminal charges probably isn't going to correct either of these issues.

While the criminal justice system is certainly necessary, there are times when people need more than just the punishments the court can impose. We know that criminal charges can sometimes lead to cries for help. Some defendants are ready to get back on track, but they don't know how.

Medical debt is a serious problem in America. Here's why

Medical debt is something most Americans are familiar with in one way or another. Whether it's the shocking cost of nursing homes or a bill from an emergency room visit, the cost of medical care can be astronomical.

Medical debt is not always easy to deal with. Even though many people carry insurance, there's still a large amount of debt to pay out-of-pocket. Sometimes, insurance carriers don't cover certain medications or treatments, so you'll end up paying for everything yourself.