Category Archives: Debt

Foreclosures Dwindle to Pre-Housing Crisis Levels

Could the foreclosure crisis officially be over? Foreclosure filings in the first quarter of 2013 fell to the lowest level since 2007, according to new data from RealtyTrac. This March, banks took ownership of 44,000 homes. While it may sound like a lot, compare that with September 2010, when banks repossessed more than 100,000 properties…. Read More »

Getting Credit Cards After Bankruptcy Easier Than Most Consumers Think

Filing for bankruptcy isn’t something to be taken lightly, but the consequences are not as dire as most consumers think. While many folks worry bankruptcy will be the end of their financial freedom, it could actually be a new beginning. Take unsecured credit offers, for example. It’s a commonly held belief that it will be… Read More »

Fewer Consumers in Debt, But Those Who Are Have Fallen Deeper in Debt

The good news is that fewer Americans are in debt. The bad news? Those of us with debts owe more than ever. According to new Census Bureau data, the percentage of U.S. households with debt fell to 69 percent in 2011 from 74 percent in 2000. However, households that did carry debt owed 40 percent… Read More »

New Credit Score System Could Improve Credit for Struggling Consumers

Traditional credit scoring methods such as FICO have long confused consumers. On the one hand, carrying too much debt will hurt your score – even if you can manage to pay it off. On the other hand, not having enough debt also leads to a low score. Now a new credit score system could make… Read More »

Despite Common Belief, Many Debt Plagued Homeowners Can File for Chapter 7 Bankruptcy

For thousands of deeply indebted Americans, Chapter 7 bankruptcy has been a saving grace. But thousands more consumers are missing out on the opportunity for a fresh start because they mistakenly believe they can’t file for Chapter 7 due to their status as homeowners. It’s a common myth that homeowners must file Chapter 13 bankruptcy… Read More »