Category Archives: Financial Distress
Five Tips for Dealing with Significant Debt
Debt can pile up unexpectedly, and before you know it, you’re struggling to pay your creditors. It might seem insurmountable, but don’t give up. Instead, try these five strategies for managing your debt and getting back on track: 1) Ask for help. Your creditors are not rooting for you to fail. If you’re having trouble […]
What Happens to Student Loans in a Personal Bankruptcy?
Students often take out loans feeling certain that they’ll get a job that enables them to repay in full right after graduating. But new graduates are encountering difficulty finding a good job. When their student loans come up for repayment, this lack of a good job can present a problem. Your repayment obligation for student […]
Report: One-Third of Americans Struggle with Debt
The stigma of debt prevents most people from admitting their financial troubles. But according to a new study by the Urban Institute, more than one-third of Americans currently have debts in collections. About 35 percent of Americans — more than 77 million people — have debts delinquent enough to be sent to collections and reported […]
Bankruptcy May Help Save Historic Pennsylvania Amusement Park
Pennsylvania’s historic Conneaut Lake Park has been authorized for a sheriff’s sale due to its significant debt in back taxes. But the park may still be able to save itself by filing for bankruptcy. The beloved Crawford County amusement park, which is 122 years old, has accrued $910,000 in back taxes over the last 14 […]
Coping with Financial Troubles
Struggling with debt not only can take a financial toll, but also an emotional and physical toll on you and your loved ones. The stress and anxiety of debt can be the source of tension, arguments or the onset of unhealthy habits, such as alcohol or drug abuse. Here, we present how you can deal […]
Family Matters: Discussing Financial Hard-Times with Your Kids
Try as you may, but you cannot cover up your money problems. Everyone around you will be affected by your stress and other symptoms. The stress associated with financial struggles can be overwhelming to you and your children, no matter what their age. A parent’s natural instinct is to shelter children from difficult situations. Resist […]
Risks of a Reverse Mortgage
Losing a home can happen to anyone. Charles Wheeler, the revered former Kansas City mayor, lost his home of more than 40 years when financial trouble hit. Medical bills, back taxes and insurance payments on the house became too big to handle. Seeking a source of cash, Wheeler took out a reverse mortgage on his […]
Why You May Want Credit Restoration After Filing Bankruptcy
Filing for bankruptcy can be an emotionally charged decision. You want to pay your debts, but the financial challenges can be overwhelming, especially in this economic climate. Filing for bankruptcy can lift the financial burden and provide a second chance for consumers with unmanageable debts. But how does a bankruptcy appear on your credit report […]
Spot Foreclosure Rescue Scams
Most of us learned growing up that taking advantage of people who are struggling or “kicking them when they’re down” is unfair and unethical. However, the sad truth is that plenty of people try to do just that. Many good people whose homes are facing foreclosure are taken advantage of by foreclosure rescue schemers every […]
Bankruptcy Filings Fell in 2011
The year 2011 saw an 11.7% drop in bankruptcy filings from 2010, according to a year-end study from Epiq Systems. In 2010, 1,561,008 people filed for bankruptcy, while in 2011 that number dropped to 1,379,113. About 70% of the filings are Chapter 7, which allow individuals to discharge their debts completely (if they pass a […]
