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Posts tagged "bankruptcy"

Is debt relief for homeowners a thing of the past?

Did you know that forgiven debt - including that related to mortgages - can be considered income and taxed by the Internal Revenue Service? In recent years, struggling homeowners have been provided with a tax break that could save them from additional charges related to forgiven debt, but that program apparently expired shortly before the new year. Now, some Washington residents could find themselves in significant financial trouble even after seeking debt relief for their mortgage woes.

Debt relief needed for young, overtaxed families

Scores of young Americans are suffering from financial burdens including student loan debt, mortgage and car loans, and even overdue medical expenses. Even though the economy appears to be on the upswing, it can still be difficult for young Washington residents to make ends meet, especially when they have been spending above their means. For these individuals and families, debt relief is a critical topic that can make the difference between a bright future and one fraught with financial instability.

Debt relief coming for patients duped by CreditCare practices

Wouldn't you trust your doctor to set up a payment plan for your medical bills? Scores of patients throughout Washington and the rest of the nation did, but they faced almost certain financial ruin after accepting terms from the CareCredit initiative provided by many physicians. Now, victims of that scheme may be able to access debt relief money, which will compensate them for the deceptive practices used by the medical loan agency.

This holiday season sees huge jump in layaway purchases

After the financial crisis of 2008, many Americans found that their finances were terribly overextended. They were mired in credit card debt, and, following a job loss or a pay cut, had no way to pay it down. Many of these Americans turned to bankruptcy as a way to emerge from under their heavy debt loads.

Late credit card payments are on the rise

Most Americans are aware of the general sway of the U.S. Economy - whether it's up or it's down, growing quickly or slowly. Often, our debt levels reflect these trends. Indeed, economists use the national credit card debt figures as a way to determine valuable information about current economic trends.

Retail credit cards on the rise in Washington

For many people, credit cards are a convenience that allows them easy purchasing and access to valuable rewards programs. For others, however, credit cards pave the road to crushing consumer debt.

Credit card debt - To pay or not to pay?

Being in credit card debt is very stressful for most consumers. Many people are all too familiar with the idea of watching one's debts pile up, getting late payment notices and perhaps even calls from debt collectors. It's a difficult situation to deal with.

Credit cards and the cycle of debt

In a recent poll, the National Foundation for Credit Counseling found that approximately one in five Americans believe that carrying a certain amount of credit card debt is "a responsible way to manage his or her finances." The results are shocking, as nearly every financial expert would disagree with the assertion in very strong terms.

Credit card debt rises for American consumers

Credit card debt tends to follow economic trends in America. Though credit card debt was high in early 2008, it was still mostly sustainable, as the economy was strong. After the recession began later that year, however, credit card debt rose even higher as American consumers struggled to maintain their financial independence.

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