Tips people could do to mitigate excessive credit card debts

Financial experts have observed that though many people are earning more money, nationwide credit card debt is also on the rise, noting the $912 billion debt from January to June of this year. Experts noted that mitigating credit card debts could be considered “one of the wisest investments” people can have. This is often conflicting,

Financial relief available for unemployed individuals

It is truly a frustrating situation for any person to have overwhelming debts, and it can be even more worrisome if a person just lost his or her job. Unemployed individuals and those who are underemployed with overwhelming debts should know there is a bankruptcy option available for them. While unemployed individuals may not be allowed to

Nationwide foreclosure level normalized

Levels of foreclosure activity in the U.S. have decreased to a pre-recession level, a mydaytondailynews.com article stated on October 13. Overall foreclosure data provided by RealtyTrac noted in September that foreclosure filings nationwide have reduced by 24 percent compared to the data recorded in the same month last year. Recent data also revealed that foreclosure levels

Tori Spelling sued for failing to settle debt

A lawsuit was recently filed against American actress Tori Spelling due to allegations that she failed to settle her overwhelming credit card debt, an October 4 article of Toronto Sun reported. Reports revealed that American Express filed a lawsuit against Spelling, 43, after she failed to settle nearly $37,982 worth of credit card debt. The credit

Former Clippers player Darius Miles files for bankruptcy protection

Former NBA player Darius Miles recently sought bankruptcy protection after playing for several seasons and earning millions of dollars, an article of Belleville News-Democrat reported on September 16. The 34-year-old former player of the Los Angeles Clippers decided to file for bankruptcy in June after acquiring too much debt. Miles acknowledged that his liabilities amounted to $1.57 million

What people should bear in mind when filing Chapter 7 Bankruptcy?

People who have been struggling with their finances should know that there are legal ways for them to possibly recover from their overwhelming debts. One of the ways individuals may do to possibly have a new start is to file for Chapter 7 Bankruptcy. While this kind of bankruptcy is considered to be the most

US foreclosure inventory has significantly decreased since 2007

A September 13 article released by CoreLogic revealed the foreclosure inventory rate in the U.S. significantly fell in July compared to the same month in previous years, an article of the National Mortgage News stated. According to reports, the foreclosure inventory recorded in July was an estimated 355,000, compared to the 501,000 recorded in the same

Why consider filing for Chapter 13 Bankruptcy?

Those who can no longer manage their debts may want to consider filing for Chapter 13 Bankruptcy. Also referred to as a “wage earner’s plan”, chapter 13 bankruptcy is a solution that gives an individual the capacity to create a plan to pay back all or a portion of their debts. This option has a lot

What should foreclosure victims do to buy another home?

Individuals should know that there are steps they can take to buy a home after completing a foreclosure procedure. Buying a home should be an option families consider because continually renting a home can become expensive and mortgage rates are becoming affordable for many. As most foreclosures happen due to financial problems, potential home buyers

Distressed borrowers given foreclosure protection under new mortgage rules

Under the new mortgage rules approved on August 4 by the Consumer Financial Protection Bureau (CFPB), certain distressed homeowners who are being threatened with foreclosure may get relief, an article of Reuters reported. The CFPB will now require mortgage payment servicers to help struggling borrowers keep their homes from being foreclosed if they have made their payments