My New Credit Card

There is no legal minimum debt one should owe before filing for bankruptcy, either Chapter 7 or Chapter 13. Rather , the success of your filing depends on the unique circumstances. For example, if you are a CEO who makes 250,000 dollars a year and owe credit card debt of 20,000 dollars, you probably don’t care to take out bankruptcy. If, on the other hand, you’re a low-paid individual on a fixed income, with a credit card debt of 10,000 dollars, the need to file a case is much more likely. In both cases the ability to file a case depends not on the amount you owe but rather on your power to pay off the debts .

Your local bankruptcy attorney is the best advisor to ask for considering whether you need to embark on the arduous task of filing for bankruptcy. They can help you figure out how likely it is that you’ll succeed in discharging your debts, which debts to let in in the filing paperwork , as well as take you step-by-step through the mathematical process, from the court fees to the court hearings. More importantly, though, they can discuss with you the initial consideration of whether to take bankruptcy. It’s

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We recently saw few NCDs coming into market like Shriram Transport Finance NCD, Muthoot Finance NCD and Manappuram Finance NCD. A lot of investors wanted to invest in these NCDs and many did. But does each of the investors understand what NCD is? And how it works? What are the risk factors associated with NCDs? Let’s look at it

To understand non convertible debentures, it would be a good idea to understand convertible debentures first. As the name says convertible debentures are those debentures which are converted to normal equity shares after a specified term. Till that time these debentures earn regular income in form for interest but once they are converted to equity shares, they are just like normal shares.

Hence non convertible debentures (NCDs) are those debentures which are not convertible to equity shares. NCDs more or less work like company fixed deposit, where you are lending a company to get some interest income and your money back after few years. Y

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When you file bankruptcy, most banks dont take it personally.  USAA does.

If you file bankruptcy on this bank, they will cancel your car insurance with them.

So if you file bankruptcy on a debt to USAA, they may cancel your membership.  (The small print on their website tells you that you are not really a member of anything.)

Although they are a bank, USAA acts like a credit union.  (You can file bankruptcy an a credit card with Citibank, for example, and still bank with them.  But if you file bankruptcy on a credit card with a credit union, they will close all your accounts and fire you as a customer.)

Eligibility to have their car insurance is limited to service members, veterans and their families.  If you default on, or file bankruptcy on, one of their loans, they can send you a letter notifying you they will cancel your insurance.

People I know who bank or have insurance with USAA, really love them.  So losing that relationship because of bankruptcy, can be emotional.

On the other hand, the world is full of banks.  And there are pl

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Have you ever had one of those months when life flips you the bird and seems to be crapping on you?

Your boss is a pain and didn’t give you your bonus, your car decided that it wanted to go into the shop for repairs that aren’t covered under the warranty and you wind up falling off a ladder when you’re cleaning your gutters and have to go to the hospital.  Thankfully, you only have a broken foot, but how much did those x-rays set you back?

Yup, a crappy month to be sure.

This is about the time that you start thinking your credit cards will have to wait because you need to get your car repairs paid for or you can’t get to work.  When this kind of bad luck happens you might find that it’s really tough to pay your regular bills on time and your credit score and financial situation seems to be unsteady.

Life isn’t always rosy, but you can take some steps to get back on track – even if you don’t have any savings or cushion!

That’s right, even if you don’t have the recommended “emergency fund”, you can still get out of your tough financial situation without being hurt too badly.

Right about now, you might be one of the many that are feeling badly about life.  It might feel as if you’re going to be stuck in tough financial straits forever and you’re all alone in your situation right now but you need to know that you’re not alone.  In fact, some of the wealthiest people in the world have suffered financial problems!!!

In some cases, you might even be able to make your credit score better than it was before, but you have to know how to turn things around to work for you.

#1: First things first:  call your creditors as soon as you realize you might have a problem.  As soon as your car takes a crap on you – call your creditors.  Why?  You might have the option of “skipping” a month of payment as long as you’re in good standing with your creditors.  Same thing goes for loans such as your mortgage and car loan. Yes this really is possible and I have helped

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