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Can Creditors Take Your Social Security Money?

What happens if you owe $10,000 in credit card debt, you can't afford to make payments on the debt, they sue you, and your only income is social security? Clients whose only income is social security don't have a lot of wiggle room when it comes to how they are going to spend their monthly money.

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Can Seniors File for Bankruptcy?

As financial challenges are becoming more and more difficult for just about everyone, many senior citizens have found that they simply don't have enough money to be able to live a stress free and debt free retirement. Health care costs and elder care costs have gone through the roof for many seniors.

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The Psychology of Bankruptcy, Part 1

I don't know if anyone has ever written a blog on this subject before, but when I woke up at about 3 am this morning, the thought came to me out of the blue that I should write a blog called The Psychology of Bankruptcy. And when I thought about it, I started thinking that far too many people have wrong beliefs and wrong opinions about bankruptcy. And that's probably because about 99% of the population didn't go to law school and learn the truth as to what bankruptcy is all about.

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7 Steps for Your Successful Chapter 7

The process of filing for bankruptcy can definitely be challenging and complicated. My goal is to simplify the complicated and make hard stuff easy. So what I am doing here is giving my clients a simple roadmap that they can follow to a successful Chapter 7. We are not going to get involved with complex legal principles. We are going to simplify, and give you an easy framework to follow.

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I Guess I Need a Shrink

In my previous blog, I gave you a very short history of how I was experiencing a lot of negative emotional states on a daily basis when I was in my 20's, and how those feelings impacted upon my life. I wrote that blog to let my readers know that I just might have a pretty good idea of how they are feeling if they are experiencing all kinds of fears, anxiety, worry, and stress.

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Stress Is a Killer

Chances are that if you are facing financial challenges, you're not exactly the happiest that you have ever been in your life. To the contrary, the odds are that you are under pretty serious stress, and that you are worried and anxious about your future. In these challenging times, well, welcome to the club, and unfortunately its a club that has millions of members.

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Coming Soon - Seymour's Youtube Channel - Foreclosure Fears and Bankruptcy Blessings.

I'm Seymour Wasserstrum, New Jersey consumer protection attorney, advocate for the underdogs. I'm creating my YouTube Channel because I've seen far too many people struggling and suffering during these difficult and challenging financial times. People who can't pay their mortgage, their rent, their car payment, their credit cards. People who fear foreclosure, eviction, repossessions, and lawsuits resulting in wage garnishments and bank levys against their assets, and all sorts of other problems.

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Are You an Underdog? Meet Seymour - Advocate for The Underdogs

I've been a lawyer since 1973, and although many things have changed over the last 48 years, one thing has remained consistent. It seems that I've always been helping the Underdogs. I wish that back in 1973 I would have started keeping a list of the names of all of the people that I was representing. Man, life was sure very, very different back then. No computer, no cell phones, no internet. How did we ever survive?

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Chapter 7 or Chapter 13?

I recently had a new client who wanted to wipe out about $50,000 in credit card debt. I told him the best way to do it would be to file a Chapter 7. He doesn't own a house (it's in his wife's name), and he is a gig worker and only makes about $10,000 a year. I figured he had an easy chapter 7 case, but a couple of minutes later I learned that his wife makes about $140,000 a year, and that radically changed the equation.

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Debt Settlement Surprise - Beware of Hidden Taxes

Lots of people pay lots of money to debt settlement companies. Some people are happy with the services provided by their debt settlement company, while others are unhappy, especially after they do all the math and find out how much of their money has gone to high fees charged by their debt settlement company.

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