Chapter 13, or the wage-earner’s plan, is a voluntary repayment plan. When you complete the plan, you have the satisfaction of keeping your assets, paying your creditors and discharging your debts. When filing Chapter 13, you agree to pay approximately 25 percent of your income to the court. The court appoints a trustee to handle […]

After you have tackled your debts head-on and paid them off, make sure you take time to reward yourself! Here are five low-cost ways to treat yourself: Grab a mocha from your favorite coffee shop, find a bench where there are lots of passers-by and watch people. Rent a DVD and enjoy a quality movie! […]

If you will build a foundation based upon debt-free living principles, it will stand up under all kinds of circumstances. When the financial challenges come and, of course, they always do, your foundation will hold and you will come through unharmed. Living without debt is about generosity, gratitude and obedience. It is about sound choices […]

By now, you should have a clear picture of how much money you can manage to pay back and when you will be able to pay it back. The next step is to decide how much you will pay each creditor and how long it will take to pay off each creditor. Try to set […]

It is important to pay back all of the debts you owe. However, if there is not enough money to make payments on all of your loans, consider prioritizing your debts. Debts you may want to pay first include mortgage or rent, utilities, secured loans and insurance. Second priorities may include credit cards and unsecured […]