More Americans are relying on credit cards as their wages stagnate or shrink and food/fuel prices continue to rise. After-tax income adjusted for inflation fell 0.1 percent from January through May, according to figures from the Commerce Department. The drop came as Labor Department data showed energy prices rose 8.2 percent and food climbed 2 [...]
The number of Americans filing bankruptcy dropped this year according to a report issued by Epiq Systems which tracks bankruptcy filings. The number of bankruptcy filings in June was 120,623, or an average of 5,483 a day, a drop of 6.2 percent from May, when filings totaled 122,775, or 5,846 a day, according to a [...]
It's a bit infuriating when you have a 73-year-old Texas-based furniture chain, Lack's Stores Inc. closing all of its stores and filing bankruptcy while some of our so-called economists have the nerve to claim that the recession is over. In a news release, the 73-year-old company said the action was necessary because lenders are no [...]
Filing bankruptcy while owning a condominium, townhome or single family home that has homeowners association fees attached to it might not completely get rid of the HOA liability. Facts about how HOA fees may be handled during bankruptcy: Homeowners' associations have a legal right to place a lien against a debtor's property if they fail [...]
It has become so common that it barely shocks even the most sensitive of us, a homeowner has spent months negotiating and waiting on a home modification only to discover that their home has be sold at foreclosure. This is the type of disconnect that is impacting thousands of homeowners in Texas and especially in [...]
Many debtors are surprised that after their bankruptcy is discharged they find themselves receiving many credit offers. Credit card companies, car loan lenders and even mortgage finance companies will send post-bankruptcy debtors credit offers hoping to capitalize on their clean financial slate. But beware; many of these creditors are subprime lenders who prey on people [...]
More families who have special needs children or other disabled dependents are considering bankruptcy. Because a disability can become financially draining, causing families to rack up hundreds of thousands of dollars in debt, bankruptcy is often a good choice. Whether the family member is blind, deaf or has some other physical or cognitive disability, special [...]
Sarah Ferguson (aka The Duchess of York) the former wife of Prince Andrew, the Duke of York, has announced that she may file for bankruptcy due to mounting debt troubles that have been dogging her for years. While she hasn't revealed exactly how much money she owes, Fergie has gone on the Oprah Winfrey show [...]
You may be suffering from debt related stress if you notice that you are experiencing apathy and lack of energy. The feeling that you don't care about your finances, debts or other financial stress is ironically a sign that you may be suffering from debt related stress. You may be suffering from debt related stress [...]
The unemployment rate rose to 9.9 percent in April, up from 9.7 in March and many experts expect the unemployment rate to remain high until 2015. Currently there are 15.3 million unemployed Americans as of April and that's not counting workers who have given up on finding a job. The unemployment rate is calculated by [...]
