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January 2017 Archives

Bankruptcy and medical debt: A growing epidemic

Americans spend more in health care costs than any other nation in the world, approximately 10 times the global average, according to the World Health Organization. Therefore it should be no surprise that individuals and families in the U.S. accumulate a significant amount of medical debt. It also isn't surprising that medical debt tends to be the leading cause of personal bankruptcy.

Focus is the key to paying off credit card debts

When the calendar rolls over to a new year, many Escondido residents set about making changes in their lives in accordance with New Year's "resolutions." For some people, the resolution will be to begin to tackle their credit card debt. This is oftentimes easier said than done, as many people are left without options to earn more income, or they are facing a debt situation that might simply be insurmountable. However, according to a recent article, those who are going to make an effort to pay down their credit card debt need to do one thing in particular: focus.

Don't let myths about bankruptcy derail your efforts

When Escondido residents get to the point where they are considering the possibility of filing for bankruptcy due to the state of their finances, they have probably exhausted all other options. In the lead-up to this point many people will attempt to make severe changes to their financial situations, such as cutting back on spending where they can and doing their best to pay more than the minimum payments on debts owed. However, for some people, even their best efforts won't be enough to get them out of a bad financial situation.

Chapter 7 bankruptcy for small businesses in Escondido

Many of our readers in Escondido probably associate Chapter 7 bankruptcy filings with individuals and families who are struggling with their finances. However, what some people may not know is that Chapter 7 bankruptcy can also be pursued by businesses that have come to the determination that the best option in a bad financial situation is to file for this so-called "liquidation" bankruptcy and shut down the company.