Knowing what happens after you ignore a debt lawsuit is critical if you want to protect your finances. Getty Images/iStockphoto Creditors and debt buyers file millions of debt collection lawsuits against borrowers each year and while there can be serious repercussions that stem from a debt-related lawsuit, the majority of borrowers never actually respond after … Read more
There’s a big difference between a tax debt and a tax lien (and it’s important to know what that is). Eduardo Monroy Husillos/Getty Images With the federal tax filing deadline just weeks away, many taxpayers are now getting a clearer picture of what they owe — and for some, that number is much higher than … Read more
A former staffer for Rep. Marcy Kaptur, D-Ohio, pleaded guilty Tuesday to siphoning over $20,000 from her former boss’s bank account to pay her own credit card bills. Courtney Hruska, 40, admitted to committing felony wire fraud at a court hearing in Alexandria, Virginia. The charge carries a maximum sentence of 20 years in prison, … Read more
Protected income offers important safeguards, but it doesn’t necessarily make you untouchable to creditors. Twomeows/Getty Images Americans are carrying record levels of debt right now, which has caused an uptick in payment delinquencies, compounding interest charges and other issues for borrowers. Credit card rates also remain elevated at over 21%, on average, making it tough … Read more
Understanding what happens if you’re behind on debt in retirement can make a difference in how the situation unfolds. Wing-wing/Getty Images A significant number of seniors are being forced to carry high-rate credit card debt into retirement, and in many cases, those balances aren’t particularly small, either. One driving factor is that household debt is … Read more
You may have more options than you expect for dealing with your unpaid debt while on Social Security. Ekaterina Vasileva-Bagler/Getty Images For millions of retirees, Social Security serves as a financial foundation and a predictable source of income. That stability is being tested in today’s tough economic landscape, though, as many older borrowers are facing … Read more
A medical crisis is less likely to cause a permanent tax problem if you know what help is available to you. Boonchai Wedmakawand/Getty Images Medical emergencies don’t just disrupt your health. They can also upend your finances in ways that can linger long after treatment ends. Between the lost income and unexpected out-of-pocket costs, it’s … Read more
What being judgment-proof does and what it doesn’t do can have a major impact on your debt repayment approach. Hanizam/Getty Images Credit card debt has become a serious issue nationwide, with borrower totals now exceeding $1.28 trillion and delinquency rates climbing as borrowers struggle to keep up with their high-rate balances. As that unpaid debt … Read more
A sudden disability can have a big impact on your finances and make it tough to manage your debt. Getty Images/iStockphoto A sudden disability can reshape your finances faster than almost any other life event. One day, your income supports your routine expenses and monthly credit card payments; the next, you may be relying on … Read more
A record number of Americans are now carrying credit card debt that they can’t pay down, a new report finds. CBS News MoneyWatch reporter Megan Cerullo has more. Source link