From the American Bankruptcy Institute’s Website: Home Foreclosures in 2010 Top 1 Million for First Time Banks seized more than a million U.S. homes in one year for the first time last year, despite a slowdown in the last few months as questions around foreclosure processing arose, Reuters reported today. Banks foreclosed on 69,847 properties […]
How to Recover From a Financial Disaster
Have you recently experienced a financial set-back or disaster?? Here are some steps you can take to begin recovery… 1) Cut overhead and get rid of unnecessary expenses – do you really need to buy that $4.00 coffee every morning? 2) Save at least $500 in an emergency fund, so you won’t be forced to […]
Interesting 2010 Bankruptcy Statistics
Here are some interesting 2010 bankruptcy statistics: 1) In 2010, American families owed a total of $866 billion in consumer debt, 2) In 2010, $1.3 trillion of U.S. consumer debt was delinquent, with $986 billion being seriously delinquent – 90 days late or more, 3) Personal bankruptcies have increased 100% over the last five years, […]
Is The Economy Recovering?
According to the American Bankruptcy Institute, consumer bankruptcy filings were down 13% in November from October. Credit card use by consumers is also at an all-time low compared to recent years, but spending is up, which signifies that consumers are finally able to start saving money. I’d like to hear everyone’s opinions on whether you think the […]
Lewisville Bankruptcy Attorney: CAN CREDITORS COLLECT CHARGED OFF DEBTS?
Lewisville Bankruptcy Attorney: There is a common misconception amongst debtors that once a debt has been charged off by a creditor the creditor can no longer attempt to collect the debt. Charged off debts are still collectible, and may be so for years after the debt was charged off. The IRS allows creditors to charge […]