Legal woes played role in Vince Young’s bankruptcy
Many San Antonio residents may have heard that the former University of Texas and NFL quarterback Vince Young has joined the ranks of professional athletes who have sought bankruptcy protection. It has been reported that the former football star earned $34 million in his six seasons in the NFL, but legal troubles and other issues […]
Personal bankruptcy the best option for some Texas individuals
Texas residents may be living paycheck to paycheck in order to make ends meet. However, in spite of what some people may think, even individuals that earn a large salary may still struggle with managing their finances. Due to this inability to manage money, personal bankruptcy is a possibility for more people than just those […]
The state of the economy: coping tactics and debt relief
Though the stock market ended the year on a resurgent note, it is becoming clearer all the time that Wall Street is not Main Street. Nearly four years after the official end of the Great Recession, numerous indicators point to the difficulties that many people continue to have in the current economy. In this post, […]
Credit-card debt: overall national amount is going up
It’s been several weeks since we last wrote about credit card debt. In our September 20 post, we noted trends in the data regarding timely payments by consumers on three different types of obligations. Besides credit-card debt, the other types were car loans and mortgage payments. In today’s post, let’s look at recent indications that […]
Residential foreclosure update: data trend for Texas encouraging
One of the important threads we’ve been following in this blog is home foreclosure. The real estate crisis and the Great Recession that followed left huge numbers of homeowners underwater on their mortgages. Many of these homeowners have been unable to keep up with their payments, and there has been wave after wave of foreclosures […]
Rebuilding credit after bankruptcy: yes, it’s doable
Facing up to financial life in modern-day America often involves tradeoffs between short-term and long-term goals. For example, someone who is in urgent need of debt relief may try to just tough it out a little longer, rather than biting the bullet and filing for bankruptcy. Sometimes people do this, in part, because they’ve heard […]
Bankruptcy filings and the economy: connection not always simple
The relationship between the overall economy and bankruptcy filings is not as simple and straightforward as it might seem. To be sure, the Great Recession and its uncertain aftermath have resulted in lost jobs and depleted asset portfolios that have led many people to file for personal bankruptcy. But it may be that sometimes the […]
Foreclosure rates: how does Texas compare to other states?
The issue of home foreclosure and the role that bankruptcy can play in keeping foreclosure at bay is one of the recurring themes in this blog. Most recently, in our September 20 post, we wrote about how the late-payment rate for mortgage payments has been going down recently as more consumers make those payments a […]
Credit scores and dating dynamics: couples and shared finances
Years ago, the rock singer Alice Cooper recorded a song called “You and Me” that contained the line “we share a bed, some popcorn and TV.” It isn’t clear from the song whether the couple is married. But Cooper could easily have included the word “finances” along with the popcorn. After all, couples, even those […]
Bankruptcy and the government shutdown: possible effects
What effect will the partial federal government shutdown have on bankruptcy proceedings? As with so many other aspects of the shutdown, there is a short answer and a long answer. The short answer is easily enough stated. Federal bankruptcy courts remain open. In this post, however, we will discuss some of the ways that the […]