Category Archives: Paycheck

Can Filing for Bankruptcy Stop Creditor Judgments for Credit Card Debt?

Credit card judgments are like ticking time bombs: You never know when they’re going to go off. For many consumers, bankruptcy is the best way to diffuse this potentially disastrous situation. As consumer debts grow, more lenders are choosing to obtain judgments against defaulting borrowers. With a judgment, lenders and their bill collectors are granted… Read More »

Finding Missing Money Is One Way Chicago Residents Can Help Pay Off Debt

You know the thrill you get when you discover a $5 bill hiding in your pants pocket? Imagine how you’d feel if you found $500 in there. OK, so you’re not likely to stumble on half a grand in your jeans. But believe it or not, it’s not uncommon for folks to forget about similar… Read More »

Credit Card Debt Making Retirement Savings Impossible for Growing Number of Americans

Americans are scrambling to find money to pay the bills – and for some, that now means dipping into retirement savings. According to a new study by HelloWallet, one in four consumers have raided a 401k to help cover a mortgage or credit card payment. But while cashing in that IRA early may seem like… Read More »

As Paychecks Shrink and Debts Grow, Bankruptcy Becomes a Viable Solution for More Americans

Lawmakers may have stopped us from going over the dreaded fiscal cliff, but the deal reached on Jan. 1 isn’t a perfect solution. The agreement hammered out just in the nick of time will extend many tax cuts that were set to expire this year, from the Mortgage Forgiveness Debt Relief Act of 2007 to… Read More »

Bankruptcy May Help Consumers Caught in Cycle of High-Interest Payday Loans

Payday loans are supposed to be a last-resort method for covering sudden, unexpected expenses. But as NBC News reports, a growing number of people are relying on these expensive short-term loans for routine costs like house payments, rent, groceries, and utility bills. Recent data shows that 12 million people used payday loans in 2010, and… Read More »