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June 2015 Archives

Credit card debt trending up across the country

According to statistics from the Federal Reserve, credit card debt totals are up 1.7 percent year over year. Add up the amount of debt owed by all Americans, and it's a staggering $11.85 trillion with $890.9 billion in credit card debt alone. That's an overwhelming number, so it's not surprising that many consumers themselves are overwhelmed by their debt situation.

Well-known gun company files for bankruptcy

An important thing to remember about filing for bankruptcy is that seeking debt relief through this process doesn't make you a bad person. Individuals who find themselves in dire straits financially are usually in that situation because something unexpected happened to them. Some say countless numbers of families in this country are one emergency or divorce away from financial catastrophe. There is very little difference, in fact, between families and big business in this regard. Bankruptcy laws exist to protect both.

U.S. Supreme Court rules bankruptcy judges may resolve disputes

Bankruptcy might be the right option for people struggling with personal debt, particularly when they face unexpected financial challenges. A liquidation proceeding, known as Chapter 7, is one option to be considered. Many families get a fresh start through this legal process without undue delay. For those with additional legal issues, disputes might need resolution in order for the bankruptcy proceeding to continue.

How can a debt management plan help me?

When you have a considerable amount of debt, you might find that it is difficult to make payments. For some people, enrolling in a debt management plan might help to get creditors paid in a strategic manner. While it is a good help for short-term bill payment, it isn't a long-term solution to the problem.

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