Last year, it appeared that the star of the television show American Chopper could lose his multimillion-dollar Montgomery, New York, home to foreclosure amid his bankruptcy because he had defaulted on his mortgage. However, Paul Teutul Sr. has been able to sell the home.
Many people who file for personal bankruptcy choose Chapter 13 over Chapter 7 in large part because it can allow them to keep their home and other valuable assets. If your income is high enough, you may not even qualify for Chapter 7, so Chapter 13 is your only choice.
When people get into financial difficulties, their credit scores can start to plummet. Unfortunately, many Americans know little about the factors that affect their scores.
The decision to file bankruptcy is a big one. It's often the best way to get your finances back on track. You may feel a sense of relief once you've made the decision and started the process.
Most of us take good health for granted -- until a serious injury or illness strikes us or a family member. The resulting medical bills, possibly coupled with lost or reduced income, can devastate a family financially.
The first quarter of this year brought some troubling news regarding consumer credit. The credit card industry saw an increase in the charge-off rate. That reflects the percentage of debt that companies don't expect to collect. While that rate (3.82%) is low by historical standards, it's still the highest in seven years, according to Bloomberg Intelligence.
The decision to file for bankruptcy should never be made lightly. However, it should be made based on accurate information and not on widespread myths and misconceptions.
The decision to file for bankruptcy should not be made lightly. If will have a significant impact on your credit for up to 10 years. It's always a good idea to look for other ways to whittle down your debt, such as by negotiating with creditors.
Americans are carrying more debt than ever before. That's the word from the Federal Reserve, which said that as of the end of last year, consumer debt totaled over $4 trillion. That's not even counting mortgages.
People who are diagnosed with cancer have access to more and better treatments than ever. However, those treatments come at a steep cost. So do medications like Gleevac, which is used to treat leukemia.