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October 2018 Archives

Chapter 7 bankruptcy can wipe the slate clean

Bankruptcy can be a scary concept for debtors in Mississippi. We at Pond Law Firm know that many people are afraid to file for bankruptcy for fear of losing everything or looking like a failure in the eyes of others. However, bankruptcy laws are there for your benefit. Bankruptcy is not a failure but an opportunity to wipe the slate clean and start over. 

Can you prevent foreclosure?

When you lose your job in Mississippi, you may wonder if you will lose your home because you can no longer pay the mortgage. It is important to take action as soon as you become unemployed so you can examine all of your options.

Can your car get repossessed right out of the garage?

You're behind on your car payments, and it's significant. It's not as if you missed one month because you forgot or fell behind on other bills. Your financial situation is not that stable, you have a lot of other debt and you have not paid your car payment in a while. You can't even remember exactly when you sent in that last payment.

Options to reduce credit card costs

Many people in Mississippi who find themselves with increasing levels of credit card debt may often wonder how in the world they can eventually make their debt decline instead of continue to grow. Even when making payments every month, interest rates, annual card fees or late fees can counteract their best efforts to get out of debt. Bankrate suggests that there is one relatively simple thing people might try to help.

The price of medical care: What you should know

You may think that if you went to the emergency room in Mississippi seeking treatment for a broken leg that your expenses would be comparable to if you were seek medical help for the same injury in Arizona. Interestingly enough, medical expenses vary from state to state, depending on what type of service you are seeking. Research from the National Chartbook on Health Care Prices looked at payment data and medical claims to determine where states fall when it comes to pricing medical services. For example, a pregnancy ultrasound in Arizona is much cheaper than in Alaska, which costs over three times the national average. Mississippi is above the national average when it comes to medical costs.

Getting a mortgage after Chapter 7

Residents in Mississippi who struggle with unmanageable levels of debt may try to avoid filing for bankruptcy for many reasons. Some people may feel that seeking bankruptcy relief is a sign of personal failure. Others worry that the black mark they may receive on their credit reports may preclude them from getting credit again in the future and especially from buying a house someday. The reality is that all of these beliefs are incorrect.