January 2013 Archives

Higher levels of credit card debt among young consumers

Due to societal changes and developments, greater levels of responsibility and freedom for young people, and other factors like the economic recession, young adults throughout Mississippi and the rest of the country are increasingly using credit cards and accumulating large amounts of debt. Unfortunately, the large amounts of credit card debt that can so easily be accumulated during college years can have serious effects on the financial stability and well-being of people as they age.

Improper threats of wage garnishment leads to settlement

When expenses begin to mount and income continues to be insufficient, it can become more and more difficult for Mississippi residents to stay afloat. Missed payments or failing to meet certain financial obligations can lead to wage garnishment or repossession, which, in turn, can create even more financial challenges and stress. The actions of debt collection agencies often exacerbate these frustrations and struggles, as many of these companies engage in inappropriate tactics and practices.

Trustee aims to stop hiding of assets in personal bankruptcy

While wealth sometimes makes life easier for Mississippi residents, at times it can complicate situations. This is true in personal bankruptcy cases, as well, as greater assets often correlate with greater debt, complicating a bankruptcy proceeding. The case of an alleged Ponzi scheme operator shows what can result when a person who lived an extravagant lifestyle files bankruptcy.

How many are starting off the New Year with credit card debt?

Mississippi residents may be interested to learn about some strategies they could employ in the New Year to get themselves out of debt. Credit card debt is a pervasive national problem, and it is no surprise that one of the most common resolutions is to pay off those annoying debts.

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