Individuals facing bankruptcy proceedings seek financial relief where almost every type of personal debt is discharged, allowing people to gain a fresh start. For the many with student loan debt, however, a completely fresh start is out of the question. In 2005,...
Month: April 2012
Why bankruptcy offered limited relief to struggling couple
Families across the country are facing financial disasters that lead down the only path of choice, bankruptcy. It is a sad story repeated often. The Associated Press reports a tale of school teachers losing everything they worked long and hard to obtain. That road...
What happens to kids when homes are lost to foreclosure?
Foreclosure and the mortgage lending industry are topics that of course we discuss every day but the general public discusses and thinks about as well. But those conversations about the foreclosure crisis, predatory lending and bad mortgages tend to focus on who is to...
Foreclosure discrimination corrupts housing market
Research has suggested for years that banks discriminated against minorities during the housing bubble. Now government officials are beginning to recognize that it did not stop there. When overwhelmed homeowners make the difficult choice to proceed with a foreclosure,...
Not even business students understand risk of credit card debt
Since the economic downturn, one might think that more people are wary about using credit cards and using them wisely. More educational opportunities and articles are put out there on a regular basis, seeking to protect consumers from the traps and complexities of the...
Bankruptcy forces rapper Young Buck to liquidate
Rapper Young Buck is in Chapter 7 bankruptcy proceedings. Young Buck became famous and successful with the rise of major celebrity rapper 50 Cent and the group known as "G-unit," wherein Young Buck was a beloved member. Things have changed since the "G-Unit" heyday,...
How not to use a credit card, part 2
Our last post began a discussion of how to most responsibly use a credit card. Many Americans make mistakes when it comes to their card use and wind up on what feels like a treadmill of trying to keep up with their excessive credit card debt. And when they can't keep...
How not to use a credit card, part 1
Credit cards can be helpful tools for an individual or couple. They can allow you to make a purchase and gain benefits connected to your particular credit card. A benefit that any responsible credit card user gains is a healthy credit score, which opens doors for...
Homeowners seeing little foreclosure relief in 2012
Home ownership is a large part of the American Dream; however, the current housing crisis is making many rethink that dream. The housing crisis is hardly new, and neither is the reality of foreclosure. But as pressure increased on major banks in 2011 after the...
Bank fails to cut the cord on debt, gets fined
Filing for bankruptcy is rarely a first choice of anyone who is facing financial difficulty, but one of many reasons why someone might take that step is to stop creditor harassment. When someone files for bankruptcy one of the first things that is supposed to happen...