Facing bankruptcy is a difficult time for anyone. It becomes even more stressful when there are dependents involved. You may be watching your disposable income run low and fear for the future—how do you keep food on the table when there just isn’t any money left?
Imagine that after you graduate from college, you carry a massive amount of student debt into your professional life. But that's okay to a certain extent -- because you are able to find a job relatively quickly in a good industry that pays very well. For years, you are able to keep up with your debts and payments, building a life that you enjoy. This is the ideal life that many people would want.
Apparently, Equifax was not content with the image problems created by the fallout that followed their hacking controversy in September. The prominent credit-reporting agency made what they likely considered a recently discovered, small change that had a huge impact on hundreds of thousands of consumers.
Having high balances on one’s credit card can put a lot of financial stress on a person. Many things could lead to a person facing this situation. One is carrying a credit card debt for a long time, given the high interest rates that can apply to credit card balances.
Consumers who deal daily with overwhelming debt from multiple credit cards, mortgages and car loans tend to focus on the sum total of their financial obligations. Looking at the finer details of the delinquent balances on each account becomes overwhelming.
A recent report on the second quarter issued by the Federal Reserve Bank is creating some concern among economists. The data released on August 15 reveals that in the wake of a strong economy and lower interest rates, credit card delinquencies continue to grow.
In a decision that many see as a setback for consumers and their advocates, The US Supreme Court ruled that debt collection companies could not be sued for trying to recover years-old credit card debt from people who filed for bankruptcy.
In a high-tech world, debt collectors continue to evolve. Their focus is singular: increase payments through any means necessary. The latest “means?” Cutting-edge technology.
The combination of credit card debt and rising interest rates has reached a milestone that many expected, but few are welcoming.
While tax season comes the stress of filling out and filing multiple forms. Organizing the necessary documents takes time. Many will inevitably wait for the last minute. While filers feel the pressure of a pending deadline, that anxiety can turn to excitement over potential tax return windfall.