Category Archives: Personal Finance
Crushing Credit Card Debt Causing More Workers to Postpone Retirement
Traditionally, the stereotype of a consumer with too much credit card debt has involved a young person – perhaps a recent college graduate with student loans or a young couple with a mortgage. But new data suggests that older Americans are struggling just as much – and sometimes more – than their children and grandchildren…. 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 »
For Young Americans Trapped Under Crushing Credit Card Debt, Bankruptcy Can Be Saving Grace
Youth isn’t always what it’s cracked up to be, at least not these days. According to a recent study, U.S. consumers in their 20s and 30s have more credit card debt than any age group. Not only that, but they’re also slower to pay off debt and more likely to ultimately die in debt when… Read More »
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 »
Without Personal Finance Know-How, Today’s Young Adults Are Getting into Trouble with Credit Card Debt
The finances of young Americans have been thrust into the spotlight recently, thanks to growing concerns over the nation’s skyrocketing student debt load. But many college students face an additional financial problem, say bankruptcy attorneys. In 2008, most graduates left college with at least one credit card and $4,100 in credit card debt. With the… Read More »