Combined data taken from the U.S. Census Bureau and the Federal Reserve found that in 2016, credit card debt for the average American household was about $5,700. Sometimes, credit card companies try to collect outstanding debts by filing a lawsuit against the debtor. The debt collector will either be the credit card company or a…
DebtSettlement
Why Is Flint, MI Threatening Foreclosure on 8000 People?
In an ongoing fight for clean water in Flint, MI that has lasted over three years, 8000 people now face foreclosure for not paying their water bills. People had been getting credits for their water bills from the city until earlier this year, when it was found that the amount of lead in the water…
What Happens When You Declare Bankruptcy on a Mortgage?
The vast majority of Americans will have to take on significant mortgage payments to pay for their homes. A simple change of fortune like the loss of a job, or development of a medical condition, could cause many people to struggle to afford their mortgage payments. Mortgage debt can add up extremely quickly, and there…
What Happens to the Debt of the Deceased?
The average American dies with an average of over $60,000 in debt. The most common form of debt carried by the deceased is credit card debt, followed by mortgage debt, auto loans, personal loans, and student loans. Many people will die with a combination of multiple debts. Some of your debt will disappear when you…
When Should You Refinance Your Home?
When facing foreclosure, refinancing your home can act as an alternative to bankruptcy. It’s also often easier than obtaining the original loan was. You already own the property, plus, if you’ve owned it for a considerable amount of time, you likely have equity. This does not, unfortunately, mean that it will be significantly cheaper. For…
The 3 Best Ways to Get Out of Debt
These days, most people experience financial problems of some sort. Learning how to get out of debt is an imperative area in getting your finances under control. Regardless of whether you are currently in debt, these tips can help you to better regulate your finances. The Best Ways to Get Out of Debt Put together…
