Archive | Debt

What Chapter 11 Bankruptcy Is All About

Corporations who get into deep financial trouble can file Chapter 11 bankruptcy. Herein the courts will order the company’s creditors to stop pursuing monies that have been extended to the business in the form of credit. Reasons For Filing Chapter 11 Bankruptcy The most common reason for a company to file Chapter 11 bankruptcy is because [...] [...more]

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Some Things Worth Knowing About Chapter 13 Bankruptcy

Image by phil dokas via Flickr Being so much in debt that repaying your debts becomes well nigh impossible is something that many people find them facing and which leaves them with no alternative but to file bankruptcy in order to get their financial situation back on track. However, as good as it may seem that [...] [...more]

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Bankruptcy Not Only Source Of Unsecured Debt Relief

For many reasons people may find themselves unable to pay off their debts and many loans such as those for cars and houses are secured by the lender holding the deed or title to the property. Most credit cards, medical bills and many other debts are not considered secured by any tangible property and finding [...] [...more]

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A Path to Creditworthiness Without All of the Plastic

There are many of us (myself included) who at one point or another have thought that the road to good credit was running out and obtaining as many credit cards as possible. Not so, says a post on TheStreet.com. In fact, such a so-called ‘credit building’ strategy can actually do more harm than good if [...] [...more]

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Debt Management Tips from Across the Pond

If you think that the United States is the only country struggling with staggering consumer debt, then think again. Our friends the Brits are experiencing the same economic woes and for many of the same reasons as a post in The Independent points out. This post outlines a few simple, but wise steps for getting out [...] [...more]

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Cast Your Vote on the Top Reasons to be Debt Free

Being debt free can mean a lot of things to a lot of people. For some it represents freedom; for others, happiness. On a less abstract level, for some it can simply mean being able to rent an apartment or have a credit card. While no one reason is necessarily ‘better’ than another, this list [...] [...more]

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Cast Your Vote on the Most Important Debt to Pay Off First

Should I pay off the credit card with the lowest balance first or the one with the highest. OR, should I pay off the card with the highest interest? OR, should I just pay off my student loan first and then tackle the credit cards? These are all questions that can overwhelm a person trying [...] [...more]

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Legitimate Debt Counseling Provides REAL Debt Relief

There are literally thousands of debt relief and credit counseling companies that constitute a thriving, $7 billion dollar industry geared towards helping consumers who are struggling with their debt. But are all of them legitimate? The short answer: NO! ‘Caveat emptor’ or ‘let the borrower beware’ probably holds true of any industry, but especially so in [...] [...more]

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How to Start Living a Debt Free Life on wikiHow

Although debt is a part of many people’s lives, it does not have to be a ‘necessary’ one. In fact, it is quite possible to live a life that is completely debt-free. Now, just how easy or practical that is debatable, but to even aspire to that goal can free up one’s valuable time and [...] [...more]

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Credit Card Rate Caps ‘Interest’ Obama and Clinton

While both of the Democratic contenders for the November Presidential nomination have a lot of good ideas, here’s one that we, at Debt Hacker, really like: cap usurious interest rates on credit cards.Where the two could not seem to agree on what that cap should be (Clinton proposes the cap at 30% but Obama feels [...] [...more]

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