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September 2018 Archives

Study finds more medical debt among younger people

Younger Louisiana residents may be more likely to fall into medical debt than their older counterparts. A study that appeared in the journal Health Affairs found that from the age 27 to 64, the size of medical debt went down almost 40 percent. This could be because older people have had more time to build up resources, and many are eligible for Medicaid. Younger people may also have more limited insurance with large deductibles.

Restructuring your business with a Chapter 11 bankruptcy

Although bankruptcy is a disheartening word in the world of business, many multi-national corporations use a Chapter 11 bankruptcy to avoid the demise of their business standings. Chapter 11 bankruptcies, commonly described as "restructures" or "reorganizations", allow businesses to continue to operate while creating a plan for repaying creditors.

The impact of delaying filing for bankruptcy

Louisiana residents who have overwhelming debt may be reluctant to file for bankruptcy, as they believe that doing so implies that they have failed personally and financially. They may attempt to avoid or postpone filing for bankruptcy, which can make their situations worse.

How money mistakes really impact credit reports

Louisiana residents may think that their credit scores are only negatively impacted by late payments, exceeding credit limits or other related mistakes. However, even seemingly innocent actions like applying for a new credit card or loan can put a negative mark on a credit report.

Important considerations before filing for personal bankruptcy

Not as many people are filing for personal bankruptcy protection these days. Still, some individuals in Louisiana may reach a point where debt is overwhelming enough to entertain thoughts of taking this step. There are times when this type of legal debt relief can be considered a smart move. However, debtors should keep certain factors in mind before exploring the possibilities with this legal lifeline.

Strategies to delay or prevent home foreclosure

When financial hardships strike Louisiana residents, house payments often suffer. Missing mortgage payments will prompt a lender to initiate the foreclosure process after 90 days of delinquency. People in this situation might resolve the problem by working with their lenders or pursuing bankruptcy protection.