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November 2017 Archives

Options for paying down credit card bills

Massachusetts residents who want to pay down their credit card debts have multiple options. Ultimately, an individual needs to commit to paying more per month than their minimum payment to make their balances go down. They also need to decide if they want a strategy that's easy to stick to or a plan that allows them to pay the least amount of interest.

Lowest bankruptcy levels in 10 years

Although consumer confidence in Massachusetts could be boosted by statistics indicating low levels of bankruptcy filings in the last year, it is important to have a balanced view of the data. The Administrative Office of the United States Courts has reported that the most recent fiscal year reflected the lowest number of bankruptcies filed in a decade. At the same time, the figures suggest that the decline in bankruptcy filing rates was the lowest since 2011.

Getting rid of the debt limits for Chapter 13 bankruptcy

Minnesota residents who have substantial debt but do not do not qualify for Chapter 13 bankruptcy due to its debt limits may soon become eligible if some bankruptcy experts get their way. Many legal practitioners support a statement made by a bankruptcy judge at a meeting of the American Bankruptcy Institute Commission on Consumer Bankruptcy who stated that the debt limits for Chapter 13 should be modified or removed.