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Category Archives: Debt

Robert Semrad Provides 3 Tips to Understanding Your Debt Relief Options

Debt relief is something that is on the minds of thousands of Americans. This is even apparent several years following the 2008 economic crisis. People lost their savings, their retirement funds, their homes, and everything they had worked for prior to the crash, and the recovery is still very much apparent. Furthermore, because of the… Read More »

Teaching Kids About Math Not Money is the Key to Keeping Them Out of Debt

Much has been made following the last economic recession about how to educate consumers and prepare them to avoid debt. More than 43 states have mandated some form of financial readiness courses at the high school level, and efforts are being made to increase that number. However, studies suggest it’s not money skills that prepare… Read More »

How Credit Counselors Advocate for Banks

If you’ve accumulated a lot of credit card debt, you’ve probably had occasion to speak to your bank about it. Perhaps you asked them to forgive a late fee, or questioned why they raised your interest rate so impossibly high that you will never be able to pay off your balance. If you’ve had these… Read More »

The Bank Bailout Means Taxpayers and Consumers Are On the Hook

The recent film The Big Short has focused America’s attention once again on the housing crisis of 2008 and the government bailout of the banks that followed. The price tag at the time was $700 billion to stabilize the banking industry. But as Forbes reported last year, the total government commitment (that is, the taxpayer obligation)… Read More »

How Bank Overdraft Fees Punish the Poor

Last year, CNN Money reported that the big three banks in the United States – JPMorgan Chase, Bank of America and Wells Fargo – had made $1.1 billion on overdraft fees in the first three months of that year alone. Obviously, overdraft fees are a big money-maker for the banks, but who is most likely… Read More »

How Debt Reorganization Can Help You

One option open to many people in debt is Chapter 13 bankruptcy, also known as debt reorganization. Debt reorganization is a tool that allows you to condense some of your payments down into one affordable payment so that you can afford to pay your mortgage and keep your home. When many people think of bankruptcy,… Read More »

How to Deal with Medical Debt

According to a study from the American Journal of Medicine, medical bills caused 62 percent of all bankruptcies in 2007. Notably, 80 percent of all people who filed bankruptcy from medical debt that year had health insurance. Clearly, medical debt can be a major problem in America, and it’s often impossible to predict. If you… Read More »

The State of Consumer Debt in the United States

The term “consumer debt” refers to money owed on the purchase of consumable goods. In the United States, the most common form of consumer debt is credit card debt. The following are some statistics illustrating the state of consumer debt in the U.S. as of May 2015: The average credit card debt for all indebted… Read More »

What is a Debt Reaffirmation Agreement?

After you file for bankruptcy protection, you might decide you want to pay back a specific debt, or you might be asked by one of your creditors to repay a debt. If you pay a debt that would have otherwise been discharged in bankruptcy, you are required to sign a debt reaffirmation agreement and file… Read More »

How to Avoid the Pitfalls of Borrowing Money from Relatives to Pay Debt

Almost everyone can think of a time when they were in a financial pinch and they needed some help quickly. If you are saddled with a lot of debt and it is causing you stress and anxiety, you believe that getting a quick loan from relatives will give you a bit of breathing space. However,… Read More »