Category Archives: Debt
Rebuilding Credit After Bankruptcy May Be Easier Than You Think, Say Experts
It’s common knowledge that filing for bankruptcy takes a toll on credit. But it turns out that most of us overestimate the extent of the damage. As a result, millions of people may be missing out on the opportunity to escape a mountain of debt or save their homes from foreclosure with help from bankruptcy…. Read More »
Instead of Worrying About Washington, Experts Encourage Consumers to Prepare for Personal Fiscal Cliff
As the holidays draw nearer, so does something else: the so-called fiscal cliff. At midnight on Dec. 31 of this year, spending cuts and new taxes are set to go into effect, while a series of tax breaks are on track to expire, potentially culminating in an economy-crippling financial pickle. If lawmakers can’t agree on… Read More »
Fear of Losing Personal Items in Bankruptcy Often More Myth than Reality
For many, bankruptcy is the single most reliable and realistic way to get out of debt. Yet countless eligible borrowers will never file thanks to a commonly-held fear. Most folks believe that if they seek bankruptcy protection, they will lose their possessions, from cars to TV sets. But in most cases, that’s simply not true…. Read More »
Persistently Sluggish Economy Proves Most Painful for Members of Millennial Generation
Five years after the economy first started to slump, Americans are still feeling the pinch – but one group is feeling it more keenly than others. According to a new study, the millennial generation appears to have suffered most due to the downturn. Nearly 50 percent of people between the ages of 18 and 34… Read More »
Home Sales Increase, But Many Potential Homeowners Still Can’t Qualify for Mortgages
With sales of new homes in September jumping to the highest level in years, one might assume the real estate market is finally recovering. But while the increase is certainly a good sign, it doesn’t tell the whole story, say bankruptcy attorneys. According to the Commerce Department, sales of new homes climbed 5.7 percent last… Read More »