If it is time to acknowledge overwhelming debt, then it may also be time to start over. Although bankruptcy is a term that often elicits feelings of desperation and failure, the institution is set up to give people the best chance at future financial health.
Facing foreclosure can be a very scary situation to be in. You may feel that your future is uncertain. Many people decide to bury their head in the sand when faced with foreclosure papers in Nashua. However, inaction is the worst thing that a person can do if they see foreclosure on the horizon. By understanding how you can take action, you will likely be able to delay or even prevent foreclosure proceedings.
Debt is a problem that reached historic levels in the last decade. The collapse of the subprime mortgage market triggered a massive recession that dried up the economies of several jurisdictions, including New Hampshire. Residents of the Granite State may expect to carry more than the national average of several types of debt.
Making the decision to file for bankruptcy may not be easy, but for some people in Nashua filing for bankruptcy is the best way for them to address their overwhelming debts. Some people may want to choose Chapter 7 bankruptcy, in which a person's assets are liquidated and the proceeds are used to pay the person's creditors. After the process is complete, many of the person's debts will be extinguished.
It is easy to think of bankruptcy as the end of a series of financial failures, especially when the pressures of debt have eroded your quality of life. But bankruptcy is designed to be a new beginning and a clean slate for people who are being harassed by creditors or buried under obligations.
Getting a divorce means something different to everyone. For many people, it is a difficult and emotional process that marks the end of an important time in their life. For others, a divorce could be the foundation on which they build their future. Emotions run rampant. The way that you feel and view divorce will absolutely inform the way that you strategize for and manage your divorce.
Deciding how to allocate parental rights and responsibilities is essential when parents are divorcing. These decisions can be very emotional, as generally both parties want to spend as much time with their child as possible. While sometimes parents can work out child custody issues on their own, other times they must turn to the court to issue a ruling on child custody. Such rulings will be based on the best interests of the child. Family law courts in New Hampshire will consider several factors when determining how to allocate parental rights and responsibilities.
What about the children? This question should come at nearly every phase of a divorce between parents. Children are affected by every decision from who looks after them at the end of the school year to who gets specific assets that may eventually go to them. It may not be the biggest consideration for adults in emotional turmoil, but child custody is one of the most important issues they will ever manage.
Divorce has a significant financial impact on most families. Not only do families have to split the assets they possess in half, potentially diminishing retirement assets and equity in the family home, but divorce proceedings themselves can also prove to be expensive.