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The average American relies on credit cards for emergencies. If their car breaks down or their washing machine stops working, they know that they can cover those expenses with a credit card now and then pay off the balance as soon as they have enough income to do so....
When New Mexico consumers file Chapter 7 or Chapter 13 bankruptcy petitions, a court order called an automatic stay is issued. Automatic stays go into effect immediately, and they protect individuals in financial difficulties from evictions, foreclosures,...
Chapter 7 bankruptcy is one of the most common types of bankruptcy filed in New Mexico. Filing this type of bankruptcy requires passing the Chapter 7 bankruptcy means test. The test determines if you have enough disposable income to repay your debts. Means test The...
Going through bankruptcy in New Mexico can be a challenging experience. It can significantly impact your financial situation, making it harder to get approved for loans, including those for cars. However, getting a car loan after bankruptcy is not impossible, and with...
It can be difficult to get a home loan after you have filed for bankruptcy. However, it is not impossible. There are a few things that you can do to improve your chances of getting approved for a loan. Rebuild your credit One of the best ways to improve your chances...
Each year, many New Mexico residents who find themselves bogged down with debt choose to file for bankruptcy. If you are struggling to pay back what you owe, you might consider going this route. You will first have to receive a bankruptcy certificate, which plays an...
At some point, many New Mexico residents may realize that they might benefit from filing for bankruptcy. Because there is a lot of negativity surrounding bankruptcy, it’s natural that some common myths have arisen. Filing will cause you to lose everything Some people...
Filing for Chapter 13 bankruptcy protection may be an ideal way to keep your car or New Mexico home. As part of a Chapter 13 proceeding, you'll be required to make monthly payments to your creditors. The following addresses how much you may have to pay, who gets paid...
Emerging from bankruptcy, you understand that the first rule is abiding by smart spending habits. Next, you want to rebuild your credit. An important tool that will help you do this is a secured credit card – a financial tool usually reserved for people with no credit...
A bankruptcy means test is used to determine who is eligible for Chapter 7 bankruptcy, which will help erase debts. The test takes several factors into account, such as family size, income, and expenses, to determine whether an individual has enough disposable funds...
