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Nearly seven years after the Great Recession reared its ugly head, a new economic report paints an unpleasant picture of American finances. According to the Fed’s Report on the Economic Well-Being of U.S. Households, 34 percent of survey participants are either” somewhat worse off” or “much worse off” financially than they were back in 2008… Read More »
Are tough economic times really over? Recent bankruptcy statistics seem to indicate otherwise. Personal bankruptcy filings in the U.S. are up a whopping 30 percent over last year, according to a recent study by the National Bankruptcy Research Center. Financial experts point to increasing debt, declining home values and a rise in overall living costs… Read More »
For many people, bankruptcy has the power to wipe out debt. But could it also wipe out your job? Debtors often erroneously believe that filing for bankruptcy will cost them their paycheck. This simply isn’t true, say bankruptcy experts. In some cases, your employer will not even find out you filed for bankruptcy. While your… Read More »
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 »
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 »
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 »
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 »