Alexandria Legal Blog

If 2020 is going to be the year you get your credit card debt under control, it's essential to look at just what expenses you're using your cards for. These days, we can use credit cards to pay for just about everything. However, it's not wise to do that.

When you charge expenses to your credit card, it's easy to forget about them -- particularly if you've signed up for automatic payments. If you have a budget you're working to stick to, it's best to use cash or your checking account to pay for your expenses. This makes it easier to track them. Further, you feel the financial "pain" of the expense immediately.

If there is one thing that America is known for, it's high medical debt when people seek medical care. Medical costs are enormous, and many believe that they are out of control.

Did you know that 137 million Americans are struggling with some kind of medical debt? On top of that, high health care bills are a reason for individuals filing for bankruptcy or taking money from their retirement accounts early.

If you're considering filing for Chapter 7 bankruptcy, it's essential to know what the various steps are in the process. One of the most important ones is the 341 meeting. The name refers to a section of the bankruptcy code.

This meeting is held with your court-appointed trustee. It's typically about a month after the filing, once the bankruptcy trustee has reviewed your paperwork and financial documents. If you have an attorney, they'll attend the meeting with you.

If you are at the point where you are considering filing for bankruptcy, you have likely found yourself in a significant amount of debt that you believe you cannot overcome without help. The good news is that bankruptcy may offer a way out, irrespective of your financial situation.

Those with a steady and dependable income may find that filing for Chapter 13 bankruptcy is the best choice for them. Chapter 13 bankruptcy involves the pausing of all creditor action, meaning that debtors can reorganize their debts and use their disposable income to repay them over time without having to worry about additional fines.