Creditors may regularly prevail in the debt collection lawsuits they file, but they aren’t always the winner in court. Getty Images/iStockphoto Over the past few years, many borrowers have become accustomed to carrying larger credit card and loan balances than they once did. That’s because a mix of higher borrowing costs, persistent inflation and rising … Read more
While the size of your balance can influence a creditor’s settlement decision, it’s rarely the only consideration. Muhammad Aqib/Getty Images Debt doesn’t typically become an overwhelming issue overnight — at least not for most borrowers. It’s usually an issue that builds gradually due to compounding interest on credit card balances, unexpected expenses impacting your budget, … Read more
Life insurance proceeds are often protected from creditors, but those protections aren’t always universal. Carol Yepes/Getty Images When someone buys life insurance, the expectation is simple: The money will be there to help the people they leave behind when they die. It can replace lost income, cover everyday expenses, pay off a mortgage or simply … Read more
The clock may be ticking on your court judgment — but perhaps not in the way you may expect. FREDERICA ABAN/Getty Images If you owe money for a judgment issued on an old debt lawsuit, you may not spend much time thinking about that lingering balance. Once the lawsuit is over, the paperwork is filed … Read more
Knowing who’s responsible for creditor notifications is an important part of managing the probate process. Doucefleur/Getty Images The financial responsibilities that follow a loved one’s death can quickly become overwhelming. Between planning a funeral, gathering important documents and starting the probate process, surviving family members are often forced to make any number of important decisions … Read more
A debt forgiveness agreement may cut down your balance, but you should know how these deals work first. amnarj2006/Getty Images Today’s economic landscape is tough for most Americans, but may be especially rough for borrowers. Household debt is sitting at a new record high, credit card interest rates are still hovering near 22% on average … Read more
Understanding how settlement decisions are made can help you submit stronger offers and set realistic expectations. Mohd Izzuan/Getty Images Carrying debt has become a lot more expensive over the last few years, and borrowers are really feeling that strain right now. Credit card rates are sitting near 22% on average, high inflation continues to strain … Read more
Some assets may be used to satisfy legitimate creditor claims, while others bypass the estate altogether. WirojSidhisoradej/Getty Images Settling a loved one’s estate is rarely as straightforward as distributing belongings according to a will. Before any heirs receive an inheritance, there’s another important step that must take place behind the scenes: resolving any outstanding debts. … Read more
Creditors may be able to place a lien on inherited property in certain circumstances — but it isn’t automatic. Kmatta/Getty Images An inheritance is often viewed as a chance to improve your financial future, whether that means moving into a family home, selling a property for extra cash or simply holding onto an asset that’s … Read more
Debt doesn’t just disappear because the person who owed it has died, but what about the interest charges? Pla2na/Getty Images Settling someone else’s financial affairs after they die is rarely as straightforward as paying a few final bills and closing some accounts. After all, the process for handling those lingering balances can be confusing, even … Read more