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In life, circumstances arise that we cannot avoid - struggling with a mounting debt, stopping a foreclosure or garnishment, problems with your marriage or battle over child custody, support or visitation. These situations can have a profound effect on our lives. During these difficult times, you need someone by your side who can care effectively for your legal needs as well as providing you with personal service to best provide support for you during these incredibly personal and private crises.

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Ridgeland Bankruptcy Law Blog

How tough of a place is Mississippi for those with student debt?

A higher education can be a very valuable thing. Thus, it is not surprising that individuals will often go to great lengths to get such an education. One of the things that many students do in order to pay for a higher education is take out student loans.

The hope that students generally have when it comes to taking out student loans is that after their education is done, the education they received will open the door for them to get well-paying jobs that will make it so they will be able to pay their student loans back without facing any significant debt struggles.

Mississippi has the nation's highest auto loan delinquency rate

There are many important choices to make when buying a car. One is how much in auto loans to take on as part of the car purchase.

Recently, American consumers as a whole have been taking on a lot of auto debt. According to Experian Automotive, there was a fairly big increase in overall outstanding auto loan balance volume in the U.S. between last year's second quarter and this year's second quarter. Specifically, this volume grew by $92 million. It's been almost a decade since there has been that large of a year-over-year increase in such volume. 

Weighing the upsides and downsides of Chapter 7

When a person is financially overwhelmed by their debts, they may have many different choices for trying to get themselves back on solid ground financially. Depending on the situation, one choice they may have is to pursue a Chapter 7 bankruptcy. There are certain requirements a person has to meet in order to be eligible for this form of bankruptcy protection.

As with any type of debt relief, Chapter 7 bankruptcy has both its potential upsides and its potential downsides. 

Credit card debt can hang around for a very long time

Having a substantial credit card balance can potentially lead to a person dealing with that particular credit card debt for a very long time. This can particularly be the case if a person's financial situation is such that they can only make around the minimum payment each month.

This can be seen in a credit card debt calculation a recent MarketWatch article focused on. The calculation involved a hypothetical credit card situation in which a person has a credit card that's annual interest rate is 18 percent and has a $2000 balance on the card. In the  hypothetical, the minimum monthly payment for the credit card account is whichever is bigger between $10 and 2 percent of the current balance. If a person with such a credit card situation makes just the minimum payment every month, how long will it take for them to pay the balance off?

A bad credit score can lead to higher auto insurance costs

Most people know that having bad credit can be very detrimental. However, many may not fully realize how wide of a range of things having a bad credit score can end up impacting for a person. Bad credit can not only affect a person's ability to get a loan or lease, but also can have negative implications when it comes to things that a person might not see as being that connected to credit.

One such thing is auto insurance. A person's credit score is one of the many things auto insurance companies sometimes use in calculating what sort of insurance premium they are going to charge a person.

Loan forgiveness may be possible for students who were misled

Student loans are a growing problem throughout Mississippi and the rest of the United States. While many people sought higher education with the promise of a higher income, some have discovered that their student loans have only saddled them with unmanageable debt.

Making matters worse is the fact that student loan debt is usually not dischargeable in bankruptcy. As we discussed in this past post, it is necessary to prove that student loan debt presents an "undue hardship" in order for it to be forgiven in bankruptcy, and that is typically not an easy burden to meet.

Home rental prices spike in Jackson

One thing home renters dread is their rent going up. Up is exactly the direction rents have been going in the U.S. as of recent.

Recently, Zillow released statistics on home rental prices in the U.S. for May of this year. According to the statistics, the nation saw a seasonally adjusted 4.3 percent increase in such prices this May as compared to the previous May.

We Can Help You Get Back On Track After Bankruptcy

One of the most common fears people in Mississippi have about bankruptcy is how it will impact their future. In other words, what happens after the paperwork is filed and your plan is approved? Do you get to start over completely, or will you feel the effects of bankruptcy for a while?

The truth is that bankruptcy can stay with you for several years, depending on whether you file for Chapter 7 or Chapter 13. At The Rollins Law Firm, we can help you determine which type is best for you and help you understand how it could affect you in the future.

Taking a summer vacation without racking up debt

With school out and good weather in most areas of the country, many Mississippi residents use the summer months as a time for travel. However, if you aren’t careful, your summer vacation can cause you to rack up some serious debt.

As USA TODAY reported recently, nearly 50 percent of Americans say that they depend on credit cards to fund their vacations when they don’t have enough saved. Additionally, many people tend to go over their budget on vacations, resulting in even more debt.

Foreclosures nationally: We're clearly not out of the woods yet

Although a number of years have passed since the onset of the so-called Great Recession, many Americans across the country continue to struggle in a number of areas.

One lingering -- some might say seemingly intractable -- concern is with the nation's housing market, where individuals and families in many areas of the nation continue to experience adverse fallout. Mississippians are certainly not exempt from continuing challenges.


Multiple Locations To Serve You Better

Ridgeland Office
774 Avery Boulevard North, Suite B
Ridgeland, MS 39157

Toll Free: 800-395-5645
Phone: 601-500-7122
Fax: 601-500-5296
Ridgeland Law Office Map

Hattiesburg Office
307 W Pine St
Hattiesburg, MS 39401

Toll Free: 800-395-5645
Phone: 601-500-7122
Fax: 601-500-5296
Map & Directions

Vicksburg Office
913 Crawford St
Vicksburg, MS 39180

Toll Free: 800-395-5645
Phone: 601-500-7122
Fax: 601-500-5296
Map & Directions

Meridian Office
2121 5th Street, Suite 304G
Meridian, MS 39301

Toll Free: 800-395-5645
Phone: 228-241-1066
Fax: 601-500-5296
Meridian Law Office Map

Gulfport Office
1323 28th Avenue
Gulfport, MS 39501

Toll Free: 800-395-5645
Phone: 228-241-1066
Fax: 601-500-5296
Map & Directions