When people are deep in debt, trying to juggle payments to a multitude of credit card companies and lenders each month in addition to paying their basic living expenses, the idea of a "consolidation loan" can be very attractive. Why not take out yet one more loan offered at a low-interest rate and use it to pay off all of your other bills?
Student loan debt has risen significantly in recent years. Proposals for helping Americans deal with their crushing debt and even canceling some debt are being discussed by people who have entered the 2020 presidential race, like Sen. Elizabeth Warren.
Back in the day, if someone owed money to a creditor, they may have received seemingly relentless telephone calls from collection agencies. Now, many people don't have landlines and may not even answer cellphone calls. Younger people, especially, are more likely to communicate via text.
Have some big losses at an Atlantic City casino contributed to the financial situation you find yourself in that has you considering bankruptcy? You may wonder if gambling debts can be discharged in Chapter 7 bankruptcy. The good news is that they likely can be.
When a New Yorker dies, does their debt die with them? Not necessarily. However, that doesn't mean that surviving family members are responsible for it.
You may never have imagined that one day you'd be considering the option of filing for bankruptcy. The word has had a negative connotation for many years. However, contrary to what some people believe, it doesn't mean that you'll never get credit again or be able to fulfill your dreams. Indeed, with some vigilance and hard work, bankruptcy can be a step forward for you financially.
A lot of Americans are getting an unwelcome surprise when they file their taxes this year. Thanks to recent changes in the tax laws, they're getting a smaller refund than they're used to or -- worse yet -- they owe the Internal Revenue Service (IRS) a considerable amount of money. The Government Accountability Office (GAO) anticipates that over a fifth of Americans will owe money to the IRS this year.
Some people who have filed for bankruptcy believe that they don't have to file income taxes. They often believe that the bankruptcy trustee will handle it. That's a dangerous mistake to make.
New data just released by the New York Federal Reserve Bank indicates that over 7 million Americans are at least 90 days past due on their auto loans. That's a record number -- higher even than in the post-recession years of nearly a decade ago.
Lady Gaga has had a level of success in her 32 years that most artists can only dream of. Now she's got two Oscar nominations for A Star Is Born -- including one for Best Actress. Gaga, who was born Stefani Germanotta, became a very wealthy woman thanks to her album sales and concert tours.