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If they have a steady stream of income, debtors in Mississippi may use a Chapter 13 bankruptcy to pay off their substantial debts. They will have three to five years to use their disposable income to resolve their debts. If individuals currently have a vehicle or...
Federal bankruptcy laws provide people in Mississippi with a possible path to a fresh start when they experience financial hardships. Data from 2015 collected by Debt.org revealed that 97 percent of the 844,495 bankruptcy filings from that year arose from individuals...
You tried to be responsible. You gathered all of your financial documents, and you filed your tax return before the deadline. However, when you finished, you discovered you’re on the hook for a lot more money than expected—more than you have in the bank....
If Mississippi residents are like most Americans, they have some sort of credit card debt. In fact, data from the Federal Reserve shows that U.S. credit card debt exceeded $1 trillion in 2017, which is the highest in history. A recent study by CreditCards.com analyzed...
The United States Courts recently released an update on the rate of bankruptcy filings in the United States. The report focuses on a 12-month period, spanning from January 1 of 2017 to December 31 of 2017. Bankruptcy filings for the calendar year were down by 0.7...
Mississippi homeowners who are struggling to pay their mortgages might be interested in learning about a couple of bankruptcy court rulings in Ohio. When people file for Chapter 13 bankruptcy, they may be able to cram down second mortgages on their homes. The rulings...
You may think that it is unavoidable to deal with debt collectors after you are deeply in debt. While it may be helpful to speak with collectors to see if you can work out a reasonable payment arrangement, some collection practices are considered abusive and are...
Bankruptcy no longer has the social stigma it once did. However, those who are considering bankruptcy may take comfort in knowing what has caused others to seek financial relief through this legal process. Although reasons for financial struggles vary from family to...
Bankruptcy is a legal process that can help those who are struggling financially find a fresh financial start. Those who have considered this process have likely stumbled on a number of legal terms, including "automatic stay." This term refers to a court order that is...
