Help! I’m Drowning in Debt

Personal Finance

Help! I’m Drowning in Debt

Help! I’m Drowning in Debt

What can you do when your outgo exceeds your income? If the situation is temporary, you borrow. But if it isn’t, borrowing is just going to make the situation worse. Here’s this week’s question: I am on Social Security and my husband is on disability. We are paying out more than we take in. Our house... Read More

What Will Leave a Black Mark on My Credit Report?

Credit Score

What Will Leave a Black Mark on My Credit Report?

What Will Leave a Black Mark on My Credit Report?

When you’re looking to apply for a loan, lenders place a major emphasis on your credit report. Your credit history includes your amount of debt and payment history, as well as other factors, and lenders look to your past credit behavior to see whether you’ll be a good credit risk going forward. There are some... Read More

Can I Walk Away From My House After Bankruptcy?

Managing Debt

Can I Walk Away From My House After Bankruptcy?

Can I Walk Away From My House After Bankruptcy?

Bankruptcy and foreclosure can each have serious negative consequences for your credit scores. But what if you experience one and then the other? Is it a double-whammy? Our reader Brent went through bankruptcy nearly seven years ago, and did not reaffirm his mortgage. But he continued to make his mortgage payments, and is still living... Read More

5 Steps to Buying a Home After Bankruptcy

Mortgages

5 Steps to Buying a Home After Bankruptcy

5 Steps to Buying a Home After Bankruptcy

In the past decade, the American Dream of owning a home has become more like the American Nightmare. With more than 7 million homes foreclosed over the past eight years and unemployment hitting record levels, buying a house has been the last thing on people’s minds. To make matters worse, perhaps you have had to... Read More

10 States With the Highest Bankruptcy Rates

Managing Debt

10 States With the Highest Bankruptcy Rates

10 States With the Highest Bankruptcy Rates

Every year, hundreds of thousands of Americans file for bankruptcy. Even though it damages the consumer’s credit for years and many people would do almost anything to avoid bankruptcy, it’s sometimes the best and fastest way for a debtor to recover from financial hardship. It’s not a decision to make lightly, but it’s also an... Read More

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