Author Archives: LPM Dev

Income Problem Versus Debt Problem

Today’s interesting case is a situation that I see many clients facing: an income problem that is a more urgent and serious problem than their debt problem. Today’s case involves a lady that we’ll call “RC.” She is a CNA that gets take-home pay of about $1,950 per month. RC used to make about $1,000 […]

Don’t Pay More For A House Than You Truly Can Afford

Buying a house is dream-come-true for many families, yet there are many families each month in Bexar County that experience the nightmare of foreclosure. These days, I see people in my office each week that are having trouble paying for their house that they bought just a few years ago. Part of the problem in […]

Get Out Of The “Car Payment For Life” Club

Over 80 percent of the people that I see for a debt consultation have a car payment. When it is a married couple that I see for a debt consultation, most of them have two car payments. Since the average car payment is over $460 per month, a married couple with two car payments may […]

Set Aside An Emergency Fund

Establishing an emergency fund is a critical step in avoiding financial trouble when unexpected events occur. I agree with Dave Ramsey’s suggestion that your first goal should be to get an emergency fund of $1,000, then hang onto it. Next, your goal for an emergency fund should be an amount equal to 3 to 6 […]

Student Loans: How They Can Effect Your Bankruptcy Filing

As student loan debt has overtaken credit card debt in the United States, totaling over $850 billion this year, more and more well-meaning people are coming face-to-face with the reality of crippling student loan payments. While student loan debt is considered secured debt, meaning you are obligated to continue paying it despite filing a successful […]

Can An Employer Fire Me For Filing Bankruptcy?

While there has never been a ruling by the Supreme Court regarding this issue, there are several cases in which District Courts have passed down decisions on the issue of discrimination based on bankruptcy status. The good news is, you cannot be fired by a public employer based on the fact that you have filed […]

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