Almost everyone has to deal with a large, unexpected medical bill at some point. A car crash, burst appendix, skiing accident or bout of food poisoning can send you or a family member to the nearest emergency room or urgent care facility. Sometimes, we're taken there by an ambulance or a loved one, and we have no say in choosing our medical provider -- let alone worrying about whether they're in our insurance network.
Are you counting on the savings in your 401(k) to support you in retirement? Most Americans don't have nearly enough to adequately fund their retirement years. A new report using U.S. Census Bureau data states, "A 25-year-old median earner in 1981 who contributed regularly would have about $364,000 by age 60 [under ideal conditions], but the typical 60-year-old in 2016 had less than $100,000."
It used to be (or at least seem) like once Americans reached their mid-60s, they could relax, travel and enjoy the fruits of many years of work. Now people are living longer and working years past the once-traditional retirement age of 65.
If you have a child going off to college this fall, you're likely concerned about all sorts of potential dangers. Let's discuss one you may not have considered.
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.