For those looking to eliminate debts and seek financial stability, bankruptcy can be very helpful. Particularly if you are a small business owner, a Chapter 7 bankruptcy may be worth considering. There are a few key facts that you should know about a Chapter 7 bankruptcy so that you may get the most out of it. Business and individual People can file a Chapter 7 bankruptcy for personal purposes, or for their businesses. Therefore, the type of business is an important consideration when determining how to file. For a sole proprietorship, the business and business owner are one, so a personal filing covers the individual and business. On the other hand, a limited liability company separates the person and business, so to dissolve all responsibility to the company, the owner would have to file a personal and business bankruptcy. Requirements The different bankruptcy types have their own set requirements. Before embarking upon the filing process, it would…

If you overspent during the holidays, you might find yourself wondering how you can get your credit card debts under control. Though it may seem as if there is nothing you can do to make your debts more manageable, it is possible for you to get a handle on your holiday credit card debt. Here are ways to eliminate your debts. 1. Create a plan If you want to pay off your credit card debt as fast as possible, Consumer Reports suggests creating a plan. Write down your minimum payments and monthly expenses. Determine the amount of extra money you have leftover. If it is not enough to make a difference, look for ways you can eliminate excess spending. Calculate how much money you can comfortably push toward your credit card debts. 2. Pay more than the minimum If you can afford to pay more than your minimum payments, do it. If…

If you are struggling to pay your credit card bills, mortgage payments, and other monthly expenses, you are not alone. Many people in Macon are also experiencing financial problems that interfere with their ability to make timely payments to their creditors. As burdensome and embarrassing as it can be for you to have credit card debt, your emotions may be preventing you from developing healthy financial habits. If you are currently working and earning income, you may be able to catch up on your payments. If not, there may be other options available. Learn how to overcome the shame often associated with credit card debt so you can take action to improve your financial situation. Assess your situation Evaluate your financial behavior so you can understand why you are in this situation. If you do not have a good understanding of how to manage your finances, you may have trouble…