Oct 21, 2020 | Bankruptcy, David G. Poston
Many Alabama citizens live from paycheck to paycheck. At times they find themselves needing short-term payday loans to make ends meet sometimes. According to the Alabama Department of Banking, 189,231 Alabamians took out 1.6 million payday loans worth about $563.6 million in 2019. Payday loans are quick turnaround cash loans that supposedly benefit the borrower …
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Oct 12, 2020 | Bankruptcy, David G. Poston
According to credit reporting agency Experian, Americans maintained approximately $830 billion in credit card debt through 2019. Almost 20% of credit cardholders carried more than $10,000 and almost 4% owed more than $30,000 in credit card debt. Owing large credit card debt causes significant financial stress. Many people with large credit card debt only obtained …
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Sep 28, 2020 | Bankruptcy, David G. Poston
Are you struggling with credit card debt? Do you fear that the credit card company will soon take action against you? You are not alone. The average American household owes $15,000 in credit card debt. Many of them face collection actions, including wage garnishment, for their unpaid credit card debt. Unfortunately, you cannot realistically ignore …
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Sep 17, 2020 | Bankruptcy, David G. Poston
Some people who struggle with overwhelming debt choose not to file bankruptcy because they fear the loss of their private information. This is a legitimate concern because bankruptcy is a public record. Bankruptcy documents do contain sensitive personal information such as: personal address Social Security number tax identification numbers bank account information listing of all …
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Sep 4, 2020 | Bankruptcy, David G. Poston
No one is immune from a major health issue. You could have an accident that causes physical injury, develop a chronic illness, or be exposed to something harmful. Unfortunately, even with health insurance, medical treatment can be costly. This is especially true if it is on an ongoing basis. Between paying premiums, deductibles, co-pays, etc., …
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Aug 31, 2020 | Bankruptcy, David G. Poston
Being in debt can cause enormous stress. If debt has weighed you down, bankruptcy might offer you the relief you desperately need. While it might seem scary, bankruptcy can provide some benefits. After bankruptcy, some of the benefits include: No More Harassment From Creditors or Debt Collectors After filing for bankruptcy relief, a legal mandate …
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Aug 17, 2020 | Bankruptcy, David G. Poston
Are you delinquent on your loan payments? Do you worry that your creditors might repossess something you own? If you offered your personal property as collateral on a loan then your creditor might be able to repossess the property depending on the type of property it is. Not all loan agreements include collateral and laws …
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Aug 7, 2020 | Bankruptcy
After experiencing financial difficulties for years, Fairfield, a small suburb of Birmingham, filed for bankruptcy on May 19, 2020. The city has struggled since one of its largest employers, U.S. Steel, shuttered part of its operation in 2015, causing the loss of hundreds of jobs. Then the next year Walmart closed the city’s Supercenter. These …
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Aug 5, 2020 | Bankruptcy
On May 15th, 2020, retailer JCPenney officially filed Chapter 11 bankruptcy. Founded 118 years ago, JCPenney became one of the first major department stores in the country. For much of the 20th century, JCPenney was a go-to retailer to buy clothing and household wares. But, since the turn-of-the-century, the retailer has struggled to maintain sales …
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Aug 3, 2020 | Bankruptcy, David G. Poston
When two people marry, their lives are merged into one unit. This means that each of them brings aspects of their personal life into the relationship thereby affecting both people. Bringing substantial debt into the marriage could place the relationship on shaky ground. What Debt Can Do to a Marriage According to a recent study …
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