Civil lawsuits are used in a civil court to resolve a dispute regarding a private matter, typically seeking compensation for damages or a court order to rectify a situation, rather than criminal punishment. A civil judgement (or “judgment” in American courts) is the...
Chapter 13 bankruptcy is a reorganization of debts, allowing you to repay all or some of your debts over time through a repayment plan. It is often considered preferable to the alternative, chapter 7 bankruptcy, as it allows you to keep all of your assets and avoid...
When debt is cancelled, such as by a credit card company or bank, that is not the end of the story. A canceled debt is actually considered income and, under the treasury regulations, must be claimed as taxable income. This is where form 1099-C comes into play. What...
In today’s world, your average person is likely to take out multiple loans in order to live a comfortable life. Cars, houses, and other big-ticket items are just too expensive for most people to pay for out of pocket. Oftentimes, when a loan is taken out, collateral...
Bankruptcy can seem very complicated to your average person. There are a lot of factors which determine not only if you are eligible for bankruptcy, but which specific chapter of bankruptcy. For the majority of individuals, the options are usually chapter 7 or chapter...
For many, a college degree is a requirement for the career path they would like to pursue. Unfortunately, with the price of tuition, housing, and other fees, a college education is an expense that the vast majority of people cannot afford to pay for out of pocket. In...
Historically, debt collection has been an industry rife with corruption, harassment, and other unscrupulous practices. In order to protect residents in debt, Pennsylvania has created a number of regulations and laws designed to govern exactly how debts can be...
When applying for car loans, mortgages, personal loans, and more, lenders use your credit score to determine not only interest rates, but if the lender will even grant you a loan in the first place. For this reason, a poor credit score can have a seriously detrimental...
Filing for Chapter 13 bankruptcy requires committing to a repayment plan over the course of several years. However, life can be unpredictable, and some debtors may face circumstances that prevent them from completing or continuing with their repayment plan on time. In...
Financial situations can often lead to concerns about the protection of property. When you are struggling with debt, there are options to protect both your assets and your home. The strategy you choose to help relieve the burden of debt will depend on your financial...
