How to Save Your Finances by Filing Bankruptcy

Although it may sound counterintuitive, there are several situations where filing bankruptcy is the best possible choice to save your money. If you’re drowning in debts, being harassed by debtors and don’t know what to do anymore, you should consider taking this legal action.

Most people dislike the idea of bankruptcy since it feels like a dishonorable choice. However, it was created with the intention of aiding businesses and individuals who couldn’t repay their debts and wished to start with a clean state of their financial status instead of spending a significant time attempting to clear the obligations.

In the US filing for bankruptcy is much easier than other countries and the advantages far outweigh the disadvantages in most situations.

If you’re in a problematic financial situation, you might want to read the following article to get a grasp of why proceeding with bankruptcy could help you.

What Options are Available?

There are several legal proceedings you can file to start bankruptcy, each one depending on your status. Always ask for the assistance of a qualified and experienced lawyer to determine how you’re going to proceed.

One of the most sought actions by individuals is the Chapter 7 bankruptcy, also known as straight bankruptcy. With this proceeding, you’ll be able to discharge all your debts in exchange for selling some of your property and excess assets.

Yes, you will lose some of your priced items and depending on the case even property, but in exchange, you will save thousands by getting rid of debts and stop that never-ending cycle of fighting every month with debt collectors and having to cut all your expenses.

How to File for Bankruptcy

With Chapter 7 bankruptcy, you’ll have to head to court and present your case, including information about your financial situation.

It’s highly recommended that you hire a lawyer to assist you through the process and present your case at the court. The chapter 7 bankruptcy process isn’t exactly simple and will require knowledge of the legal system to get the best results.

Consequences of Bankruptcy

The crucial advantage of this process is discharging all your debts, leaving you free of obligations towards your debtors.

However, most people are scared that bankruptcy ends up with you losing all your property and assets, losing all your credits in the present and future, and leaving a bad reputation in your credit score.

The truth is that it’s only partially correct, depending on your financial status you may keep some of your property that is exempted according to local law. You will lose all your credit cards, but if you restart your finances and make a plan, you might be able to get most of them back in a year or two.

Although your credit score will suffer, if you’re already drowning in debts bankruptcy will leave you with plenty of room to grow after discharging your debts, and you’ll be able to regain most of your reputation fast enough.

Stop the Cycle of Debts

Loans, credits, mortgages, the increasing price of essential services, and over a dozen more types of debts are always concerning the minds of millions of Americans every day. Stop living month to month struggling to see which debts you’ll pay this month and which ones will only get worse.

Seek the legal advice of an experienced lawyer to find out if bankruptcy or other legal proceedings are beneficial for you and can end the cycle of debt collectors harassing you every month.

Continue Reading

Signs That You Need a New Air Conditioner

Air Conditioner 2

Air-Conditioning systems not only consume huge amounts of a home’s total energy budget, they also directly affect the comfort and well-being of your family. If you are experiencing problems with your air-conditioning unit, it may need to be replaced and you may need to immediately contact licensed, HVAC certified top professionals who will provide you with great consultation, the best products, and the most trouble-free air conditioning installation.

Here are some telltale signs that your unit may be about to fail.

  • It’s Old – Air conditioner units should be expected to have a lifespan of 10 to 15 years. If yours is this old or older, it is time to replace with a new unit. Also, older systems are usually half as efficient as newer models on the market today. So replacing your older unit to a more efficient one can reduce your electricity bills by 30 to 40%. This saving will begin immediately and continue over the lifetime of the system.
  • More and More Repairs – As an air conditioners ages, it typically needs to be repaired more. If you are finding that you are seeing your HVAC contractor more frequently, this is a sure sign that your unit is going bad and needs to be replaced soon. So, you need to weigh up whether it is worth the increased repair bills for a unit that will fail soon.
  • Air is Not Cool and Home Has Too Much Humidity – The amount of cool air coming from your air conditioner should be on-demand and consistent. If at some point, you discover that even at full blast, the air coming from your vents just isn’t as cold as it used to be, this could be a sign that your system is in need of serious repair or it might be time to replace the unit.

Air conditioners not only cool the home, they also remove humidity. As air conditioners age, they may not effectively dehumidify the home, and the indoor air quality is drastically reduced. A high level of home humidity may be a sign that you need a new system.

  • Air Conditioner Runs Too Long – An additional indicator that you may need a new air conditioning system is inefficiency. This often means that your air conditioner runs too long with no noticeable cooling of your home. There can be several reasons for this, including issues with the ducts, but it can also mean it is time for the unit to be replaced.
  • Reduced Air-Flow – If the air-flow coming from your AC has gotten weaker, or you find that some rooms are getting sufficient air-flow while others hardly get any, the unit’s compressor may be failing.
  • Strange Noises or Smells – Unusual noises including squealing, grating, and grinding sounds, or bad smells coming from your air conditioner might mean it is having serious problems. These may imply that something is wrong inside the unit or that your duct system is not compatible with your cooling system. Further inspection by a professional  might reveal that the entire system may need to be replaced.

Like all electrical devices, air conditioning units eventually fail. Recognize the signs that it is failing long before it actually occurs, so you do not end up with no AC on the hottest day of the year. A new air-conditioning unit will not only save you money in the long run, but will add to your overall comfort of you and your home.

Continue Reading