Debt-settlement industry: persistently under fire
Talk about a business niche that has an unrelenting image problem. Once again, the debt-settlement industry is making media waves for the adverse repercussions visited on consumers across the country who solicit the “assistance” of companies that pledge debt relief and simply don’t deliver on their promises. As many of our readers in Texas and […]
Regarding nation’s debt crisis, are we digging out or digging in?
So, are we doing better or not? Has the national economy at least stopped snarling at the middle class sufficiently enough over the past couple years to enable most challenged debtors to regain their financial footing? These questions certainly seem reasonable enough to ask, and at this time. After all, the monstrous housing collapse and […]
Student debt: ripple effects across the larger economy
Student debt held by Texas residents and many millions of Americans in other states as well is often readily distinguished by financial commentators from other types of unsecured debt. That means most centrally things like credit card debt and medical bills. Many media pundits are quick to note that those types of financial obligations, once […]
There’s that harassing caller again: how to deal with him or her
We recently passed along a few general tips for our readers in Texas and elsewhere regarding how to respond to contacts from aggressive debt collectors (please see our blog entry dated May 2, 2014). A central recommendation for any challenged debtor is of course to secure the prompt and knowledgeable assistance of a proven bankruptcy […]
Debt-relief tips centrally include this: Find a good lawyer
Virtually every consumer who has passed the time while waiting in the grocery line by scanning media headlines off the magazine rack that precedes the cash register knows that the media loves lists. Five ways to dress for success. Ten insider recommendations for scoring cheap home improvements. Fifty ways to leave your lover. And serious […]
Military members can fight back against harassing debt collectors
According to the national news source Governing magazine, Texas is home to nearly 125,000 active-duty military personnel. That large number of men and women who reside in the state while serving their country likely comes as no surprise to most Texans, given the many — and often major — military installations that are interspersed throughout […]
Debt and lack of savings pushes retirement age up for many
If you are a San Antonio resident who is putting off retirement – perhaps, indefinitely – you are not alone. The average age at which Americans retire is continuing to rise, and it has been reported that many Baby Boomers will wait until at least the age of 66 to leave the workforce. And, as […]
Student loan debt and bankruptcy: a proposal for change
It’s been a few months since we last wrote about student loan debt. As we explained in our May 24 post, the general rule is that this type of debt is not dischargeable in bankruptcy. The only exception is in cases of “undue hardship,” and courts do not readily grant that exception. It is becoming […]
Some debt relief schemes are too good to be true
By itself, debt is not always a bad thing. Sometimes, consumers have to assume debt in order to finance major purchases, such as a home or vehicle. At the same time, however, a person can become overwhelmed by their financial obligations, which may require debt relief. Although there are numerous ways to unload tremendous debt, […]
Drain a 401(k) to deal with debt? Bankruptcy may be better option
People who are struggling with debt often consider taking some money out of their retirement accounts in order to keep creditors at bay. Debtors often believe they must do everything they can to pay their bills now, even at the cost of raiding their retirement funds. To a degree, this is understandable, especially if creditors […]