Category Archives: Debt
Without Good Debts, More Young Consumers Unable to Get Loans
Fewer young adults are in debt today than 10 years ago. But as it turns out, that may not be a good thing. It’s not that people in their 20s and 30s have become more financially responsible overnight. Rather, it’s that their fiscal behavior over the past decade has finally made it impossible for them… Read More »
Financial Aid Scams Take Advantage Of Chicago College Students
Getting a college degree is supposed to help you earn money – but lately, some students have been losing money thanks to a growing number of financial aid scams. For many folks out of work or looking for a way to boost their current income, going back to school seems like a logical solution. Problem… Read More »
For Borrowers Relentlessly Hounded by Debt Collectors, Bankruptcy Can Bring Peace and Quiet
Falling behind on debt payments is stressful enough as it is. But for all too many borrowers, the situation is made even worse by harassing debt collectors. Collection agencies are paid by creditors to help persuade delinquent borrowers to pay up. For their work, they often receive a fee or percentage of any repaid debt…. Read More »
As College Costs Rise, More Borrowers Delay Student Loan Payments on Growing Debts
More than half of student loans in the U.S. are going unpaid due to financial hardship, according to recent data. As of last spring, 51 percent of education loans were in deferment or forbearance – periods in which borrowers are able to temporarily delay payments during times of unemployment, underemployment or other financial difficulty. As… Read More »
Household Debt Hits New Low, But Expiring Tax Cuts Could Obliterate Savings
U.S. consumers had more money in their pockets this year. Unfortunately, those fatter wallets may not last long. The household debt service ratio, which looks at the amount of mortgage and consumer debt in relation to disposable personal income, fell to its lowest level since 1983 – nearly 30 years ago – in the third… Read More »