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December 2014 Archives

What are the rules and advantages of filing for Chapter 13?

Financial issues can affect anyone whether they're from Massachusetts or elsewhere around the nation. If these problems become too overwhelming, many are reluctant to consider various forms of bankruptcy due to the misplaced belief that they're shirking their commitment to pay their creditors. However, there are many advantages to getting the fresh financial start that Chapter 13 bankruptcy can provide and it's important to understand them before dismissing the idea out of hand.

Massachusetts Senator wants student debt relief

Student loan debt has become an increasing problem for borrowers and the economy of Massachusetts and throughout the United States. One in three students has loans, making student loan debt an even bigger problem than credit card debt. Students are struggling to make ends meet as they graduate from college with a large amount of debt and are unable to find a job that pays enough to cover their loans. Often, students are unable to find debt relief and need to declare bankruptcy.

Noted Massachusetts contractor files for Chapter 7 bankruptcy

A renowned Massachusetts contractor recently filed for Chapter 7 bankruptcy, citing an ongoing legal suit as the primary cause for its financial issues. The company, whose CEO took over for her husband after his death in 1990, became well-known after the CEO was named the first female Builder of the Year by the Northeast Builder's Association of Massachusetts. Additionally, the CEO was celebrated in 2012 by the Home Builders Association of Massachusetts with a "Legend of the Industry" award. This honor is given to those who the Association feels have bettered of the industry. Unfortunately, though, even those who are successful are not immune to financial challenges.

Avoiding credit card debt during the holidays

Residents in Massachusetts will often make several shopping trips during the holidays. In order to get all the gifts for loved ones, some might be tempted to spend more money then they intend. This could lead to using credit cards and racking up more debt than they can handle. While some balance on a credit card in manageable, if this debt gets out of hand, consumers might encounter major financial problems.