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November 2018 Archives

Bankruptcy is a financial tool for people drowning in debt

The financial struggles that some individuals face can be hard to handle. When you are in this position, you need to think carefully about your next steps. One thing that you can't do is ignore the debt. It isn't going to go away. Instead, creditors might transfer the account to debt collectors. Your credit score will be impacted by the missed or late payments.

Know which disability programs to make application for benefits

If you become disabled, you are going to have to navigate the complex world of disability payments. The Social Security Administration (SSA) handles these benefits through two distinct programs. Each of these has its own requirements. It is imperative that you understand them so that you know to which programs you need to apply. The Supplemental Security Income (SSI) program is for people who have limited resources and income. This program includes children who are disabled. You don't have to have any work history to qualify for SSI. However, you do have to be diagnosed with a condition that meets very specific requirements. You also will have to pass a means test. For SSD benefits you must prove you are disabled and have paid into the system through prior employment.  Our office can help you navigate this system in your attempts to get disability benefits.

Personal bankruptcy can help those who are too far in debt

The holiday season is here, which means that many people are going to feel pressure to purchase gifts. Even though you want to show others how much you care for them, it is imperative that you only make purchases if you can truly afford them. Unfortunately, it is easy for you to become overextended with your credit during this time of year.

What you need to know about retirement accounts and bankruptcy

Many people worry about what is going to happen to specific assets if they have to file for bankruptcy. This is completely understandable since they worked hard to obtain and maintain the things they have. One thing that is especially troublesome for some is their retirement account.