Category Archives: Bankruptcy
Compared with Bankruptcy, Mortgage Modifications Do Little to Help Housing Crisis
No one would argue with a lower mortgage payment. Unfortunately, loan modifications aren’t the magical solutions they’re cracked up to be, say DebtStoppers bankruptcy lawyers. In recent years, mortgage modifications have become a popular last-ditch effort for homeowners struggling to afford their home loan payments – partly because of President Obama’s Home Affordable Modification Program… Read More »
As Bank Fees Soar, Consumers Already Struggling with Debt Search for Solutions
Raising fees is nothing new for big banks. But recently, checking and ATM fees seem to be reaching unprecedented levels, say bankruptcy attorneys. According to Bankrate.com, just 39 percent of checking accounts are now free of charge, compared with 45 percent last year and 76 percent back in 2009. While using your own bank’s ATM… Read More »
Fed Lowers Mortgage Rates, but Bankruptcy May Be Better Solution for Homebuyers
The Federal Reserve is embarking on an ambitious plan to boost the economy by lowering mortgage rates. But experts say the program, which was announced last week, may not be enough. The Fed plans to begin buying $40 billion a month in mortgage-backed securities in an attempt to push mortgage rates lower. But with rates… Read More »
Without Personal Finance Know-How, Today’s Young Adults Are Getting into Trouble with Credit Card Debt
The finances of young Americans have been thrust into the spotlight recently, thanks to growing concerns over the nation’s skyrocketing student debt load. But many college students face an additional financial problem, say bankruptcy attorneys. In 2008, most graduates left college with at least one credit card and $4,100 in credit card debt. With the… Read More »
Prepaid Cards May Take Advantage of Consumers Already Drowning in Credit Card Debt
As banks increase fees, more consumers are forgoing traditional checking accounts for prepaid debit cards. Back in 2009, consumers loaded $28.6 billion onto prepaid cards. By 2013, that number is expected to grow to more than $200 billion, according to CNN. But while prepaid cards may save a few bucks in the short term, they… Read More »