Older Ohio residents are still in debt when they reach retirement age according to a MoneyMagnify analysis. The analysis was conducted using information from a University of Michigan study. Conducted since 1990, it asks more than 20,000 Americans at or over the age of...
Month: August 2017
New rules will affect Chapter 13 bankruptcy cases
Ohio consumers who are considering filing for bankruptcy might want to be aware of new rules that may affect their cases. The rules, which were issued by Chief Justice John Roberts of the Supreme Court of the United States in April and sent to Congress, will modify...
Trustee actions deemed invasive
Recently, Chapter 7 trustees have been asking debtors for passwords to PayPal, Amazon Prime and similar accounts. How this may impact Ohio debtors is unclear as the Justice Department does not approve of these questions. It is also unclear how the information is used...
Responsibility for a deceased person’s credit card
If the owner of a credit card dies, surviving family members might be responsible for the debt in some circumstances. However, if a person is a sole cardholder, it is likely that no one else is responsible for the debt including the surviving spouse since Ohio is not...
Disadvantages of debt consolidation
Some Ohio consumers who are struggling with their financial obligations might be considering debt consolidation. However, one issue is that it does not address what is in many cases the root of the problem. For example, one man was struggling to avoid filing for...