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Posts tagged "unemployment"

The value of your home may not be fully exempt in bankruptcy

New York state as well as federal laws provide individuals going through bankruptcy with a homestead exemption. This exemption is a value of real property that a person may protect from his creditors when the Chapter 7 liquidation of assets process begins. However, not all New York residents are eligible for the same homestead exemption. An important factor will determine how much of an exemption a person may claim.

Credit card debt is a problem for American college students

Many New York college students go off to their academic institutions each fall with plans to be fiscally responsible. After working through the summer to earn money they know how quickly their money can dry up once back at school. Although some students stick to their plans and learn how to budget, others get caught up in their purchases and find themselves relying on other forms of monetary support to get through the year.

What risks are associated with settlement for debt relief?

For New Yorkers and people all across the country, money troubles can develop in a number of ways. Unexpected unemployment can stop a person's income. Emergency medical procedures can create insurmountable bills. Failing to adequately plan for one's future can also throw a wrench into a person's financial health.

Credit card debt a troubling problem

In today's troubled economy, many people in New York and nationwide are experiencing difficulty handling credit card debt. For many, such debts mount up based on accumulating interest and may be a contributing fact to the need to file a personal bankruptcy of either the Chapter 7 or Chapter 13 variety.

How to prioritize your debts

Many consumers in Garnerville or Rockland, New York, who have trouble handling their debts have a variety of types of accounts. They may have credit card debt spread over several different cards, as well as student loans, a mortgage and a car loan. Sometimes, it can all become a little overwhelming, especially if financial difficulties arise, such as those from an illness or job loss. When a consumer does have the good fortune to have a little extra money, the question arises which debt should he or she attempt to pay down or pay off first?

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