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When a relationship becomes serious, the couple often starts to carefully consider their finances. After all, a long-term commitment like marriage usually means two people will combine their finances. As you consider both your assets and debts, you may wonder: will your partner’s financial situation affect yours if they filed bankruptcy in the past? The…
Read MoreOpening your small business was the fulfillment of a dream. However, the last few years have not been easy for small businesses in New Mexico and across the country. For many, business fell low and debt piled high. When the Small Business Reorganization Act went into effect in 2020, it established subchapter 5 as a…
Read MoreAs New Mexico residents prepare for the holidays and the start of a new year, it is common to reflect on the past year. This practice is widespread, with even the government and courts gathering data on the events of the year – especially in terms of finances. So, what is the latest information on…
Read MoreThere are countless myths when it comes to bankruptcy. Many people believe myths such as only financially irresponsible people file bankruptcy, or that filing means they will lose everything. Some of the most common myths surround your credit. Here, we will discuss some of these. Myth: Bankruptcy permanently damages your credit Fact: It is true…
Read MoreFiling bankruptcy is an option that many people in New Mexico choose to help them manage their debts and gain a fresh financial start. This fresh start is often made possible with the discharge, where the court eliminates your debts. However, a Chapter 7 bankruptcy does not discharge all debts. Some debts – as well…
Read MoreDealing with debt and financial issues can feel very isolating. You might feel like the only person struggling as you try to escape the pressures of debt. This isolation can make it seem like debt is not a common issue, or that bankruptcy is not a common solution. Is that true? What do the statistics…
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