Thomas F. Miles, Attorney and Counselor at Law
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Debt Relief Archives

Phone apps designed to help address unmanageable debt

At no time in human history has more information been more readily available than it is right now, via the tiny computers that so many of us carry around in our pockets or bags. For those in California who are struggling to gain control over unmanageable debt, there are multiple phone apps that can make that process a bit easier. Debt reduction is a challenging task, and finding tools to assist consumers can make a world of difference.

Finding support in California when faced with unmanageable debt

Many people throughout the nation, including, no doubt, some in California currently face financial challenges that significantly impact many areas of their lives. In some situations, there have been unexpected losses of employment, while others have inherited debt by being named beneficiaries in estate plans. There are also many business owners who have been trying to get their heads above water during economic crises and are struggling to find solutions for unmanageable debt.

Managing money after debt reorganization and bankruptcy

Emerging from a successful personal bankruptcy process provides a deep sense of relief to many California consumers. The time that follows is a period during which it is important to make well-informed financial decisions. Debt reorganization can provide consumers with the ability to regain control over their finances, but without the proper precautions it is possible to sink back into unmanageable debt.

Unmanageable debt may be on the rise in California

During elections seasons, many in California and across the country hear facts and statistics about the national debt which may sound frightening. However, some economists are recommending that consumers examine signs of danger in their own finances. These economists are noticing a disturbing trend in consumer spending. According to recent reports, many Americans may be carrying unmanageable debt, and it seems to be getting worse.

Is credit counseling a solid debt reorganization option?

Faced with serious debt issues, many in California will consider their options in finding debt relief. For some, credit counseling seems like an attractive possibility. While this approach can help some people achieve debt reorganization, it is not a good fit for every set of needs.

"Dance Moms" star admits debt reorganization fraud

In California and across the country, people who are overwhelmed with debt may explore many options for relief. They may choose bankruptcy as a means for debt reorganization, though it may not be a pleasant experience if they are dishonest in declaring assets. Concealing earnings and assets may result in serious legal charges.

Dinner Lab files for Chapter 7 bankruptcy after closing doors

A company that was established in another state in 2012 recently succumbed to financial pressures and closed its doors. Initially, Dinner Lab had a unique concept that involved hosting pop-up dinners in novel settings at which up-and-coming chefs prepared the meals. The customers then provided feedback after finishing their meals. Before filing for Chapter 7 bankruptcy, the company's owners attempted to sell the data gathered in this manner but found no interested parties.

Unmanageable debt? What happens in a case of emergency?

Information obtained by the Federal Reserve in its annual study to determine the health of the household finances of people in California and other states indicates that almost half of respondents live on a financial edge. It is reported that 76 million people are struggling to get by and will not be able to handle even $400 emergencies without obtaining high-interest loans or using their credit cards. Unfortunately, such measures often lead to unmanageable debt.

What is the best way to address unmanageable debt?

Consumers in California who are exploring ways in which to resolve debt issues may consider applying for a personal loan. There are some advantages to using a personal loan to settle unmanageable debt. Such a loan can be used to pay credit card debt or to refinance existing loans. Before applying for a personal loan, it makes good sense to research the best interest rate available, because that is what makes a personal loan a better choice than a credit card.

Consumers should be wary of debt reorganization offers

California residents who are overwhelmed with debt are often eager to find a way back to financial stability. Debt reorganization offers can seem like good options toward reaching that goal. That said, there are a great many scams aimed at consumers who are looking to restructure their debt. Consumers must be aware of those scams and seek a debt relief option that will actually serve their needs, rather than make the situation worse.

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Thomas F. Miles, Attorney and Counselor at Law
152 West Park Ave
El Cajon, CA 92020

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