Bankruptcy
Is social media contributing to debt?
Nearly 223 million Americans have at least one social media account. For people of all ages, social media has become a part of everyday life. While several studies indicate social media can affect one’s mental health, it seems it can also impact one’s financial health. Many people might think that social media has nothing to…
Read MoreDebunked: Myths about Chapter 11 bankruptcy
Many New Mexico business owners pour their hopes, work and finances into their business. Running their business is not only a job but often a dream that they have had for a long time. Therefore, it is natural to worry when the business comes up against debt and financial challenges. Business owners have several options…
Read MoreWhat situations can lead to bankruptcy?
Change is constant in our lives. However, that does not always mean that these changes are positive. Unforeseen changes can disrupt your life – and many can impact your finances as well. So, what are some of these events that can increase the financial strain you face? 4 events that could result in bankruptcy Of…
Read MoreHow does Chapter 11 bankruptcy work?
There are many different chapters of bankruptcy. The chapter that a debtor selects depends primarily on their individual needs and financial circumstances. One option that is available to both individuals and businesses is a Chapter 11 reorganization. So, what does this debt relief option entail? Who can file Chapter 11? While individuals and married couples…
Read MoreImportant: Keep all bankruptcy documents
Receiving the discharge letter after navigating the bankruptcy process can bring a great feeling of relief. After all, the discharge of your debts is the goal, so you can obtain a fresh start. However, even when you obtain a discharge, there are a few more steps you must take. One step that you should not…
Read MoreIf I can make payments, am I still eligible for bankruptcy?
In today’s world, it is not difficult for debt to spiral and become a major dilemma. Perhaps you can make the minimum payments on your credit card and other pressing loans, but debt can still pile up quickly and become unmanageable. Many people in this situation worry about whether they can still file bankruptcy. It…
Read MoreWill I have bad credit forever after filing bankruptcy?
In today’s society, your credit score can play a large role in your life. It often comes into play when you make large financial decisions, such as when you rent or buy a house, purchase a car or apply for a loan. This critical role is one reason why many people worry about maintaining and…
Read MoreBankruptcy: How it applies to managing credit card debt
If you were to take a survey about credit card debt, it would be unlikely that you’d find any participant who could say they have never experienced it. Most people in New Mexico and throughout the country have had a balance unpaid on their credit cards at some time or another. You’ve probably noticed in…
Read MoreWhich type of bankruptcy best fits your needs?
If you have encountered financial challenges in 2020, you are definitely not alone in your struggle. Many New Mexico residents and others throughout the country are in the same boat. Global, national and personal economies are fluctuating systems. One or more of the three may become compromised at any time. In fact, it is not…
Read MoreJob loss isn’t the end of the road
Times are tough, but it may be comforting to know that many others are in the same boat. As unemployment continues to skyrocket across New Mexico, you may have reasonable concerns about your family’s emotional and financial well-being. That’s especially the case if you get laid-off. However, it’s important to remain diligent during this turbulent…
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