Consumer Debt

US Medical Debt Statistics

10 Statistics about US Medical Debt that Will Shock You

Medical debt is a big problem in the United States. For years, it’s been the No. 1 reason people file for bankruptcy — even though the more common assumption is that those struggling financially have been overspending in other areas of their life. Luckily, bankruptcy can be a helpful solution for a lot of people. It’s […]

Debt Collectors NYC

NYC’s Worst Debt Collectors: Who are They?

Over 20 million people live in one of our country’s biggest regions, metropolitan New York. With that many people, it’s likely that millions are in financial dire straits. And where there is financial misery, there are debt collectors. Who are the Big Apple’s most prolific debt collectors? Are they the major players in the debt collection […]

Debt Collectors America Reports of Abuse

Debt Collectors in the US You Need to Know

The debt collection industry is big — estimated to be a $12 billion industry in fact, and growing. There are literally thousands of debt collectors in the form of collection companies, law firms, and yes, even debt buyers. How does it all work? The origin of debt collectors had humble beginnings. They were often in-house departments of […]

Household Debt Bankruptcy Trends 2017

Household Debt Near Great Recession Level: What Does it Mean?

Although bankruptcy filings have been trending downward for years, household debt is expected to hit a new record in 2017. It may seem like a big number, but fewer than 800,000 people filed for bankruptcy in the U.S. last year. Just six years ago, that amount was double. Will household debt start to catch up […]

Payday lending pitfalls: What to know

With the holidays approaching, people of every income range will be buying gifts for others. For many, this is just an added year-end expense. Others who feel the pressure to give to family and friends but don’t have the money may look for other ways to fund this seasonal expense. The ads for “payday” loans […]

Can I pay back family before bankruptcy?

In times of difficulty, we naturally turn to family and friends for help. The same holds when those difficulties are financial. Family and friends know you and understand your troubles; they’ll be willing to lend you a hand even when banks won’t. They trust you regardless of your credit score. If you borrow from people […]