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October 2019 Archives

Bankruptcy may help a person eliminate debt

Maryland residents have a couple of options to help them get out of debt. The first method is to ask a creditor to forgive a debt or put a debtor on an alternate payment plan. However, there is no guarantee that a creditor will agree to do either of these things. There is also a chance that an individual will have to pay taxes on any portion of a debt that is forgiven.

How debt reorganization can solve financial issues

Those with overwhelming debts will understand the feeling of not knowing which debt to tackle first. When you know that you cannot afford to pay all of your debt repayment obligations, it becomes a matter of prioritization. But when you have a wide range of debts that are all subject to differing rates of interest, creating an effective debt repayment strategy can be very difficult to do.

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