Posts tagged "filing for bankruptcy"

The link between credit cards and depression

Those who are struggling with debt in Southaven know that there can be many negative effects of that struggle: stress, worry, anxiety and potentially even depression. According to a recently reported study, even small amounts of debt can cause depression. Due to the severe effects of unmanageable debt, local residents may wish to learn more about filing for bankruptcy and how it can eliminate or consolidate debt.

January is an appropriate month for confronting credit card debt

Now that the holidays have come and gone, many Mississippi residents are pondering how to get rid of two things: extra pounds and extra credit card debt. After the holiday season, credit card debt may be particularly challenging. Tax season is around the corner and many families may already be struggling to pay the government while also paying back their consumer debt. In addition, credit card debt tends to have notoriously high interest rates and thus the New Year becomes a fitting time for a reassessment of one's financial situation.

Nationwide credit card delinquencies stabilize

The financial picture of most Mississippians has likely changed in the past several years. Some may be in the process of tackling student loans after graduation, while others may be coping with lower-than-expected incomes or the fallout from layoffs during the worst of the recession. However, there is encouraging news on the financial front: the nationwide level of credit card delinquencies is at its lowest point in seven years.

Americans' credit card debt appears to be shooting back up

The Great Recession taught Mississippians many things: secure employment is something to be sought-after and appreciated, cars and homes should be affordable in light of one's income and expenses and credit card debt is something to be maintained very carefully. Still, despite the newfound credit lessons related to the recession, some data show that Americans may be getting into credit card debt yet again.

Understanding the debt-to-credit ratio of consumer debt

Many Mississippi residents already know that their financial outlook would be brighter without certain debts. Burdens like student loans, auto and home loans and credit card debt can come together to paint a picture of overwhelming debt. Still, while many know that they must pay down debt in order to secure a more stable position, the question is often how, to tackle that debt in a way that helps rather than harms one's credit.

Credit score considerations for bankruptcy and settlement

Once thought to be mysterious and difficult to comprehend, credit scores are now the focus of countless educational initiatives. Knowledge is power, and those who know more about how to increase their credit score are apt to have not only more borrowing power but more peace of mind later on.

Credit cards to help lower debts

One major source of problems for many Americans, including Mississippians, is debt. Society attempts to prepare young adults for the realities presented by financial challenges, like the stresses it can cause on personal and professional aspects of an individual's life. Typically, relying on credit cards is never recommended in attempting to manage finances. However, one bank is proposing an unusual way to combat credit card debt and other expenses.

More than your finances can be at stake in bankruptcy

Sometimes financial challenges are not the only problems that people in Mississippi experience before deciding whether or not to file for bankruptcy. They may also be exposed to criminal liability. In such circumstances, it may be difficult to determiner whether to proceed with a personal bankruptcy proceeding.

Doctor faces federal bankruptcy fraud charges

Being forthcoming about your financial situation in important in many situations, including when seeking financial advice, applying for loans and even when filing for bankruptcy. A doctor living in one of Mississippi's neighboring states has recently been scrutinized for potentially making false statements in connection with his Chapter 7 bankruptcy filing. His situation reveals the serious consequences that flow from such potential fraud.

Survey reveals many Americans still face financial challenges

The rising cost of living and a slow job growth rate, combined with the loss of the payroll tax breaks have made it difficult for many Mississippi families to make ends meet. When this happens, some debtors may find that filing for Chapter 7 bankruptcy is the best way for them to eliminate their debts, providing them with a fresh financial start.

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