Good Debt vs. Bad Debt To manage your finances wisely, it's crucial to understand the difference between: Good Debt: Investments that can build wealth over time (e.g., student loans, business loans) Bad Debt: Spending on items that lose value, especially with high interest rates (e.g., excessive credit card use) Debt as a Financial Tool: Understanding [...]

If you’re self-employed and considering filing for bankruptcy in Ohio, you can file either a Chapter 7 or a Chapter 13 bankruptcy, just like anyone else.  However, before you can file you need to complete a “means test” to determine and prove your average income for the prior six months. This requirement can be tricky [...]

The holidays bring wonderful times with friends and family, but it’s all too easy to wind up in debt for the New Year. Well-meaning people often equate the spirit of the season with how much money they spend, but that mindset can lead to financial trouble. An annual national survey on holiday spending by the [...]

When you find yourself swamped with bills you can’t pay, even if it’s not your fault, you are probably feeling embarrassed, depressed and hopeless -- but you’re not helpless.  Even if you’re being harassed by a debt collector or faced with legal action, there are things you can do to help get back on track. [...]

What happens to your debts after you die?  Do your debts die with you, or will your family wind up getting harassed by creditors and debt collectors? The answer is complicated, because when people die, their estate goes into probate, and the estate owes the debt. If there isn't enough money in the estate, it typically [...]

You’re getting married, and it’s wonderful to focus on celebrating your love; but are you also marrying your spouse’s past debts?  You need to also think about what happens after the wedding so you don’t get stuck with debts you didn’t run up yourself and wind up with a negative credit score.  Dealing with the [...]

After bankruptcy, you want to fix your financial situation as quickly as possible. Bankruptcy can remain on your record for up to 10 years and may cause your FICO credit score to go down into the 400's.  Still, there are steps you can take to rebuild your credit and increase your FICO score, and if [...]