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December 2015 Archives

Washington makes top 10 debt-ridden states

According to numbers from the Federal Reserve Bank, Washington is number eight on the list when ranking states from highest to lowest when it comes to per capita debt for each household. The numbers used to create the list go through 2014 and include debts such as car loans, mortgages, credit cards and student loans.

What is a lien?

One of the topics we cover a lot in our blog is the fact that you, as a borrower, have numerous rights. Those rights protect you from creditor harassment and let you seek options for relief when debt becomes overwhelming. Creditors also have rights, and one of those rights can be exercised in the form of a lien.

Life insurance payouts and bankruptcy: No easy answer

Life insurance policies might be relevant to bankruptcy cases in a number of ways and unfortunately, an easy answer about how life insurance values of payout relate to creditors isn't available. The truth is that the relationship between life insurance and bankruptcy depends heavily on state law, the individual circumstances of the bankruptcy case and the type of life insurance policy in question.

Zero-balance transfers: top tip or terrible trap?

If you've found yourself in credit card debt -- for whatever reason -- and are having trouble getting ahead of the game because of high interest rates, some people recommend using a zero-balance transfer to tip the scales in your favor. While such strategies do have benefits for those dealing with debt, they can also create a debt trap that is even harder to get out of.

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