The first step when organizing your finances or starting any debt management plan is to fully understand your personal debt. Debt is money, goods, or services owed by an individual to someone else. Having debt can be a burden that is hard to overcome without the right strategies, so it is important to understand where […]
If you have explored all the other options available for dealing with debt, including professional help, bankruptcy is there. Previously a taboo subject, bankruptcy has seen a rise in recent years. And to some, it does not carry the stigma it once did.
Getting in over your head with debt can happen for a variety of reasons: unexpected medical bills, tax debts, and overdoing it with credit card purchases. Each one of these common debt issues may require some degree of outside assistance to help get you back on the right path toward financial health.
We all know that having access to credit is a necessary part of life. Being able to effectively and responsibly manage that credit, however, isn’t always an easy task. Circumstances make it hard to pay off balances in full each month, particularly on credit cards, and the need for a loan can arise nearly anytime.
The average amount of debt carried over from month to month by the American consumer has increased significantly over time. Households carry an average of more than $16,000 in credit card debt, which can come with a hefty monthly payment. The total debt held by Americans extends into the hundreds of billions, made up of […]
Each year, more than 500,000 consumers file for bankruptcy to help alleviate a mounting burden of debt they can no longer afford to pay. And while filing bankruptcy has the benefit of wiping out or seriously reducing what’s owed to creditors, it creates a less than rosy credit picture that can be difficult to overcome. […]
Being responsible with money doesn’t come naturally to everyone. Mistakes are made, especially early on in life, like missed or late payments, overextending yourself when it comes to everyday or major purchases on credit, and ignoring missteps to the point they harm your credit.
In this guide to wage garnishment, it breaks down what it means to have your wages garnished, why it happens, and the amount that can be withheld for your pay. While these issues are the most pressing for those who experience wage garnishment, there is another, often longer-term concern that arises.