Step #1: Determine Your Average Monthly Income Step #2: Know Your Expenses Step #3: Create a Balanced Budget Step #4: Review Your Budget Regularly Step #5: Use a Technology to Help You Step #5: Use Technology to Help You By this time you’ve completed the “meat and potatoes” steps (Steps 1 through 3) that allow … Read more
Step #1: Determine Your Average Monthly Income Step #2: Know Your Expenses Step #3: Create a Balanced Budget Step #4: Review Your Budget Regularly Step #5: Use a Technology to Help You Step #4: Review Your Budget Regularly The first three steps in this series are really the “meat and potatoes” of creating a budget … Read more
Step #3: Create a Balanced Budget So far we have discussed the importance of getting accurate information for determining your income by reviewing at least the last several months of paystubs and we have discussed the incredibly important task of getting a “financially honest” expense report. The next step in putting together a successful budget after filing … Read more
In our last blog post we talked about the first step of budgeting after filing for bankruptcy, which was knowing your income. I mentioned in that post that I believed determining your income was the easiest of the five steps in building your budget. Unfortunately, I think the second step, knowing your expenses, is the … Read more
As a bankruptcy law firm we have filed thousands of bankruptcies for people all across North Carolina. During our years of experience we have seen almost every scenario you can imagine that would lead to someone having to file bankruptcy – whether it is a sudden illness with unexpected medial expenses, loss of a job, … Read more
The short answer is no, you do not have to pay taxes on debts that are wiped out in bankruptcy. Quite often those trying to decide between bankruptcy and some type of debt consolidation will look to see which option will be most advantageous for them when it comes to tax implications. Usually, filing bankruptcy … Read more
I’m sure you never thought this would be the case but this is the easiest step of them all. If you’ve followed the three steps before this you should have cleaned up your credit report, spent a year laying the foundation for your new credit with a secured credit card and now you should have obtained a reasonable unsecured credit card.
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