Category Archives: Debt

Credit Card Debt Settlement Deals Typically Too Good To Be True

As of this June, the average American household had just over $15,500 in credit card debt. Considering credit card debt is only the third largest source of debt behind mortgages and ever-rising student loans, it’s no surprise that most consumers’ wallets are feeling pinched. And it may also be no surprise why a growing number… Read More »

Life After Bankruptcy Is Better Than Most Americans Think, Says New York Times

For a growing number of Americans, filing for bankruptcy may be the only realistic solution for eliminating crushing debt. Unfortunately, many of these potential filers put off seeking bankruptcy protection because of a common misconception. Since notice of a bankruptcy filing will remain on an individual’s credit report for 7 to 10 years, most people… Read More »

Faced With Large Debts, Many Students Default on School Loans

One of the biggest financial stories of 2012 has been America’s record amount of student debt, which recently exceeded $1 trillion. Now it seems students are breaking another record, say DebtStoppers bankruptcy attorneys. The number of borrowers who defaulted on a federal student loan within two years of their first payment is on the rise,… 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, 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 »

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 »