When two people get married, they promise to love each other “for richer, for poorer.” Unfortunately, financial difficulties can add more stress to an already strained marriage to the point where the love is lost. Once a couple gets divorced, they may think it is the end of their financial problems when, in fact, it is often the beginning. Unexpected life changes such as a divorce frequently lead the people involved to file for personal bankruptcy—whether it’s Chapter 7 or Chapter 13.
Foreclosure rate in Ohio rises
Despite legislation to make mortgage modification easier and prevent even more foreclosures after the housing crisis, many Americans are still struggling to keep their homes. If you are overwhelmed with the amount of your personal debt, Chapter 13 bankruptcy is a viable option that will typically allow you to stop foreclosure, keep your vehicles and get some debt relief.
Tips for making medical debt more manageable
Some people are born with a medical condition requiring expensive, long-term care; others are hit with an unexpected medical condition that leaves them unable to work and makes it difficult to pay medical bills. In either instance, the bills can quickly add up and leave the person with overwhelming medical debt. Following are a few tips to help make the amount of money you owe more manageable.
Debts increase, credit scores decrease among older Americans
Many Ohioans are embarrassed to admit that they don't have enough money in their bank account to cover emergency expenses--they feel it indicates a lack of self-control. This is not necessarily the case. People all over America have been faced with financial challenges and racked up debt paying for basic expenses such as housing, food and childcare. Increases in social security taxes have also contributed to household debt.
