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If get-rich-quick schemes worked no one would have debt issues. This also applies to Get Out of Debt schemes. People often find themselves even deeper in debt after attempting to follow any of the risky strategies described here. These rarely work out and rather than helping, can worsen problems and make it even tougher to dig yourself out of debt.

Throughout bankruptcy proceedings, you’ll likely come across some legal terms particular to bankruptcy that you’ll need to know. Here are some of the most common and important ones:

Differences in the management of money, debt, and finances are often cited by many couples as an underlying reason for divorce. Along with being the cause of a divorce, marriage is also a contract, and the division of assets and debts is required.

For most people, their home is the center for many of life’s activities. Your home is where life happens; raising your children, celebrating milestones, holidays, graduations, etc., it is the safe haven away from the stresses of life. When this is put in jeopardy due to overwhelming debt, the loss of a job, reduction of income, or an unexpected medical event you need to explore every resource possible to protect your most valuable investment.

There is a proposed change to the FHA options offered to homeowners and buyers in terms of mortgages. With a longer-than-ever 40-year term announced with the intent of helping keep people in their homes, reduce foreclosure actions and make housing more affordable.

A recent study found that Gen X (42 to 57 years old) is the least likely generation to know when they want to retire and how much money they’ll need to do it. The typical Gen X household has about $64,000 saved for it — not nothing, but not enough to generate a lot of income. It also found that 20 percent of Gen X respondents overestimate how much they can pull from their retirement funds.

If you find yourself in a position in which you are overrun by debt and unable to manage your payments, you have probably already started receiving phone calls from creditors and letters in the mail demanding payment.

Recently it was reported that Americans added over a trillion dollars in debt during 2021. To put that into perspective that is a little more than $2,750 for every person in the country. This is the largest amount recorded in 14 years.

By Ronald C. Sykstus

One of the issues that I have seen lately is individuals with clearances getting criminally charged with federal or state offenses. What should you do if you hold a security clearance and find that you are charged or have pending criminal charges in federal or state court?

It comes up every tax season. You’re looking forward to receiving a big tax refund check, and you’re also working hard to get your bankruptcy case filed. So, what happens to your tax refund in a bankruptcy case?