While high outstanding medical bills continue to rank as the leading cause which precipitates financially distressed people to file for bankruptcy protection, high-interest loan obligations constitutes the third, most cited reason. As individuals saw their homes...
Month: September 2014
Wiping out Credit Card Debt via Chapter 7 Bankruptcy Effectively
After medical bills, credit card debt stands as a top reason individuals choose to file for Chapter 7 bankruptcy protection. Although many states have caps –New Mexico has a 50% cap on interest rates on credit card accounts – the level of these caps can...
Keeping Your Home through Chapter 13 Bankruptcy
One of the big advantages that Chapter 13 bankruptcy filings have compared to Chapter 7 bankruptcies is that a Chapter 13 bankruptcy action affords the debtor the opportunity to save their home when the debtor is behind in their mortgage payments or is facing...
Court Data Provides Snapshot of Bankruptcy Debtors’ Assets and Income
By certain measures, those residents of Albuquerque - and New Mexico more broadly - who are experiencing some form of financial distress proportionately tend to have more wealth tied up in their real estate compared to people in certain neighboring states. But they...
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