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October 2014 Archives

Federal Reserve numbers show decreases in credit card debt

Even though the recession may be officially over, many people--especially New York residents--carefully watch financial indicators to assess the strength of the economy and whether the rebound will continue. Statistics relating to credit card debt are commonly studied because they can provide data on how well American households are faring financially and how they are spending--or not spending--their money.

Homeowners have more ways to stop foreclosure than they think

Financial challenges are always tough for New York families. Worrying about which bills to pay, dealing with the harassment of debt collectors and creditors, and trying to find ways to improve their financial outlook can all take a serious toll of families' sense of security and peace of mind. The risk of foreclosure generally ratchets the stress and pressure up considerably, however, because people fear losing their home, which is often their greatest investment.

What are the differences between Chapter 13 and Chapter 7?

Chapter 13 and Chapter 7 both provide debt relief for consumers who are no longer able to meet all their financial obligations. There are some key differences between the two types of bankruptcy, however. Knowing how the two types of personal bankruptcy differ will help people better understand which type is likely better for their situation.

Federal statistics show rising household credit card debt

The effects of carrying large amounts of credit card debt can reach far beyond the expenses of singificant interest charges or negative consequences on a person's credit score. Financial strain can be incredibly taxing and stressful for individuals and families, especially when creditor harassment begins or intensifies.

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