In the years following the Great Recession, consumer debt has steadily risen. Even as the economy has recovered a little bit here and there, our household debt has a way to go in terms of catching up. We’ve lost a job and it’s still been hard to find a new one. We have medical bills that are impossible to pay, credit card debt that continues to mount, or our homes are about to go into foreclosure. With family members struggling just as equally, it can seem like there’s nowhere else to turn. However, we do have options. Bankruptcy may be one of them. Learn more about consumer debt and bankruptcy from the National Bankruptcy Forum.
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…Read more
Why is Rosland Capital Telling Everyone to Buy Gold?
Rosland Capital advertises heavily on television, encouraging people to purchase gold and silver coins as well as gold and silver ingots. With the current turmoil in the stock markets, this may sound tempting. The question that is often asked is whether it is a good idea to purchase precious metals, either as an investment, as…Read more
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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…Read more
Should I choose a college based on my parents’ income?
We all know college is expensive. But just how hard is it to pay off student loans? According to new information published by the National Bureau of Economic Research (NBER), choosing the right school to attend can have a huge effect on your future — but not just on what type of job you might…Read more
4 lessons from 50 Cent’s bankruptcy case
A federal judge recently discharged the bankruptcy case of rapper 50 Cent after he paid more than $22 million of his debt. 50 Cent filed for Chapter 11 reorganization in 2015, with debts of $36 million and assets of less than $20 million. The “Get Rich or Die Tryin’” artist, whose real name is Curtis…Read more
How many people filed for bankruptcy in 2016?
Bankruptcy filings are continuing to decline, with fewer than 800,000 people filing in federal courts last year. All bankruptcy cases are handled in federal courts, per the U.S. Bankruptcy Code. Although 800,000 seems like a lot, it pales in comparison to the height of the economic collapse in September 2010, which saw nearly double the amount…Read more