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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

Does Mississippi have the lowest financial literacy in the nation?

A recent report raises some major questions regarding the state of financial literacy here in Mississippi. The report was from WalletHub.

The report ranked all the states and Washington D.C. when it comes to financial literacy. In determining the rankings, the report looked at many different things regarding financial habits among a state's residents and financial education programs in a state. 

We can help stop creditor harassment

Living with debt can take a significant toll on your life. If you have debt and are struggling to make your payments on time, you may find yourself answering phone calls from creditors who tend to only make matters worse.

It is important to recognize that you have rights as a consumer, even if you owe creditors. The Fair Debt Collection Practices Act protects consumers from harassment from debt collectors, but it is important to be aware of the restrictions creditors face because far too many debt collection companies do not obey the rules. 

Many different things can lead to a person considering bankruptcy

The financial and economic world is a very complex one and one in which there can be quite a bit of fluctuation. Thus, there are many different ways a person could find themselves in financial trouble.

Consequently, there are all sorts of different things that could lead to a person considering seeking out bankruptcy protection.

Debt type can have impacts when it comes to debt relief

When a person is seeking a solution to a debt problem, there are many different things that have the potential to be very impactful.

One is how much of their debt load is secured debt. Generally, debt that is secured by a court order or collateral is secured debt. Some examples of debts that are generally secured debt are auto loans and mortgage loans. Some examples of debts that are typically unsecured (not secured by a court order or collateral) are credits card debt and medical debt.

Personal bankruptcy: when it truly makes sense

A financial columnist recently took a look at one couple's debt picture and pronounced it "a good example of why … bankruptcy is better for consumers than financially limping along."

Many individuals and families across the United States, including in Mississippi, think hard about bankruptcy as a potential option for dealing with what seem to be truly insuperable debt levels.

A little history about the student loan bankruptcy ban

Bankruptcy provides serious debt relief for people who are struggling with large credit card balances, underwater mortgages, defaulted car loans, unpaid medical expenses and many other types of secured and unsecured debt. People can eliminate all of these through bankruptcy, but not student loan debt.

It is a well-known fact that former students in Mississippi and across the nation are struggling with overwhelming student loan debt their salaries simply cannot cover. Unless debtors can prove they would face an undue hardship, which is a very high burden, student loan debt is generally not dischargeable through bankruptcy.

Is credit counseling a bankruptcy requirement?

If you are struggling with overwhelming debt in Mississippi, bankruptcy is process that provides meaningful debt-relief solutions. You can address multiple sources of debt at one time, eliminating the debt or reorganizing it into a single affordable plan based on your ability to pay. During the process, you receive protection from creditor calls and collection activity.

Bankruptcy is a powerful tool for debt relief, but it is also a federal program. As with any other government programs, there are a significant number of rules and requirements by which you must abide. Credit counseling is one of them.

Credit card debt levels see significant increase

Credit card debt can lead to serious financial troubles for consumers in Mississippi. A new survey by CardHub reports that credit card debt increased by 47 percent last year. 

The increase in credit card debt by consumers is a sign that the economy is improving. However, the significant increase in just one year shows that many consumers in the United States have not changed their spending habits since the Great Recession. 

Credit reports and medical debt: material rule changes announced

Americans are anything but a monolithic bunch, with ample evidence forthcoming daily -- from street demonstrations, polling results, fiery congressional debates and other sources -- indicating that the spectrum of viewpoints on almost any subject is wide, indeed.

Put another way: In these fast-paced and complex times, it might sometimes seem that there is virtually nothing that a strong majority of people across the country can agree on.

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