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New Mexico Lawyers Serving New Mexico's Legal Needs Since 1997

July 2018 Archives

Struggling with credit card debt? Chapter 13 might be an option

Anyone in New Mexico who is facing serious financial problems is definitely not alone in the struggle. In fact, tens of thousands of people throughout the nation are currently going through similar situations. Credit card debt is often a causal factor when finances are thrown out of whack. Chapter 13 bankruptcy may be a solution.

Erase bad debt with the help of bankruptcy

Debt could be either good or bad depending on the intentions of the debtor. For example, a mortgage loan that has a payment within 36 percent of the borrower's monthly income would be a good debt. On the other hand, if the payment on a New Mexico property is more than a third of the homeowner's income, they are more likely to struggle financially.

Millennial generation starting own businesses at a record pace

Millennials are often unfairly blamed for “ruining” certain industries, among them sit-down restaurants, diamonds, fine jewelry and more. Regardless of whether this is true, millennials are also being credited with innovation in business, as more of them are starting their own businesses or pursuing freelance opportunities than ever before.

Bankruptcy and divorce

While it's true that many American bankruptcies stem from medical expenses, job loss or sudden loss of income, a fair amount of them relate to divorce. A divorce means divvying a single household - and its income - into two. This means twice the expenses, twice the utilities, twice the mortgage or rent payments, etc.

Recovering from bankruptcy

When you are thinking about filing for bankruptcy, you may find yourself wondering about what the long-term impact will be. You might worry you won’t ever be able to have a credit card, buy a new car or get a mortgage. Thankfully, these worries are unfounded. All of these things are possible following a Chapter 7 or Chapter 13 bankruptcy filing.

Watch our videos to learn of the many ways we can help you with your legal needs.

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10400 Academy Road NE
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Albuquerque, NM 87111

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