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Debt Collector Scams Targeting Payday Loan Borrowers

There’s a new reason to be stressed about phone calls from debt collectors: a growing number of debtors are being scammed into paying off debts they don’t owe by phantom debt collection agencies. Thousands of Americans have reported receiving calls from fake debt collectors, according to the Federal Trade Commission. In response, the FTC has… Read More »

What Happens If My Spouse and I Get a Divorce During Chapter 13 Bankruptcy?

For many debtors, Chapter 13 bankruptcy is truly the most effective way to find lasting debt relief. But in the three to five years it takes to work your way through a Chapter 13 repayment plan, your financial situation may change, whether you get married, switch jobs or – as many folks unfortunately do -… Read More »

Student Loan Debt Taking Psychological Toll on Today’s Grads

We all know that debt is hard on the bank account. But now it appears it’s also hard on the psyche. Struggling under the weight of student loan debt and credit card debt, today’s young adults are stressed and unhappy. It’s estimated that 7 in 10 college seniors now graduates with some level of student… Read More »

4 Financial Tips for Young Adults Overloaded with Debt

Never has it been more expensive to be a young adult living in America. These days, the average 20-something is living paycheck to paycheck while dealing with massive debts in the form of student loans and credit cards. With a busy schedule that can include jobs, family and school, folks in their 20s frequently put… Read More »

How Will the Chicago Debt Crisis Affect Residents Struggling with Debts of Their Own?

It’s tough enough to struggle with your own debt – but what if you were also on the hook for your city’s massive financial troubles? That’s exactly the problem facing thousands of Chicago residents today. Despite its position as an economic powerhouse in the Midwest, the Windy City is in trouble. Decades of financial mismanagement… Read More »

Middle Class Americans Living Paycheck-to-Paycheck Find Relief Through Bankruptcy

Earning a good salary, owning a home and having a retirement account – all these things used to be indicators that you were in good financial shape. But according to a new report, today’s middle-class Americans are far from comfortable. In fact, most are living paycheck-to-paycheck. A recent study presented by the Brookings Institution claims… Read More »

4 Simple Tips for Paying Off Personal Debts or Eliminating Them Completely

Nobody plans on winding up with tens of thousands of dollars in debt – yet somehow, the majority of Americans do. Sometimes it stems from using credit cards to cover unaffordable expenses like home repairs or to pay the bills during a temporary unemployment. Other times it’s a result of expensive student loans. Perhaps the… Read More »

How Unpaid Medical Debts Damage Credit Scores

When you’re recovering from injury or illness, paying bills might be the last thing on your mind. If so, you’re not alone: Medical bills are the most common form of delinquent debt in the U.S. But left unpaid, medical debt can add up to a world of pain. According to the Fed, nearly 1 in… Read More »

Committing Bankruptcy Fraud: Just Don’t Do It

No one gets away with lying on a bankruptcy schedule – not even celebrities. The proof: Teresa and Joe Giudice, stars of the Real Housewives of New Jersey, recently confessed in a federal court to committing bankruptcy fraud by neglecting to list income and assets. Sources say the couple lied about Teresa’s income from the… Read More »

Can I Discharge Income Tax Debt With Bankruptcy?

With tax day fast approaching, many folks are understandably concerned about their finances. In fact, one of the most common questions we get asked around this time of year is whether income taxes can be wiped out with bankruptcy. The short answer is that it depends. Federal and state income tax debt can indeed be… Read More »