May 2014 Archives

Could family structure inform financial health?

Readers of this blog are likely well aware that bankruptcy can be a viable option for those facing financial difficulties. This course of action may be taken for a variety of reasons including the loss of a job and medical bills. While individuals from all backgrounds could find that they are facing bankruptcy a recent study sheds some light on the role family structure plays in financial matters.

Study finds credit card debt often due to basic living expenses

There is a notion that some people have that credit card debt is the result of irresponsible spending on frivolous items that they don't need. As most people who have accumulated a large amount of credit card debt know, this is not always the case. In fact, according to a report from Demos, a think tank, the opposite is true. Individuals turn to credit cards to get by when things beyond their control, such as health issues or the loss of a job, occur.

There are limits on tactics debt collectors can use to collect

As many residents of St. Paul, Minnesota, are likely aware, the stress of dealing with overwhelming amounts of debt can be difficult to handle. Many people in this situation feel great shame, even when the situation may not be due to bad decisions on their part. It is likely that most readers can imagine a situation in which debt could accrue despite making decisions they think are sound.

Minneapolis area ranks high in foreclosures with positive equity

There are a variety of reasons why residents of Minneapolis might find that they are struggling to make ends meet. Depending on each person’s situation it may be impossible for those individuals to figure out a way to deal with the matter without help. These people may not know where to turn and those who own homes may end up letting them fall into foreclosure. This is particularly common when someone owes more on a house that it is worth. When the economy caused the value of homes to fall many people turned to this option.

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