Many students decide to attend college or graduate programs to increase their chances of securing their dream job, or at least a stable income. Still, graduates often find that when they enter the job market, it can be difficult to get a position in their field, let alone one that pays enough to cover student loan bills.
What to do when foreclosure threatens your home sweet home
Ohio's economy, like most other states in the nation, has had its ups and downs. If you've been raising your family here for some time, you've probably faced quite a few challenges through the years, as the cost of living, housing market and employment rate (among other things) affects your daily life and long-term goals. Your family may have survived several crises, as well, such as medical emergencies or unforeseen circumstances that took a great toll on your finances.
What to do when foreclosure threatens your home sweet home
Ohio's economy, like most other states in the nation, has had its ups and downs. If you've been raising your family here for some time, you've probably faced quite a few challenges through the years, as the cost of living, housing market and employment rate (among other things) affects your daily life and long-term goals. Your family may have survived several crises, as well, such as medical emergencies or unforeseen circumstances that took a great toll on your finances.
Mistakes people make when paying down debts
Ohio residents who are struggling to pay down debt are not alone. According to data published by WalletHub, credit card debts for consumers in the United States are nearing their pre-2008 levels. As interest rates continue to rise, more and more people are turning their focus to paying off their obligations. The primary mistakes people make when trying to pay off debt are ignoring the root cause of the problem, continuing to use credit cards, creating new debts on new cards, worrying about credit scores and failing to stick to a plan.
Bankruptcy misconceptions: The truth may set you free financially
Many individuals experience financial challenges at some point in their lives, and the financial weight of debt can be a heavy burden. If you are facing similar circumstances, you could be suffering from a situation in which there appears to be no end in sight.
Stagnant wages linked to surge in credit card delinquencies
Consumers in Ohio and around the country are finding it increasingly difficult to keep up with their monthly bills according to a report from the Federal Reserve Bank of New York. The New York Fed says that credit card delinquency rates in the United States rose in both the first and second quarters of 2017 and now sit at 2.47 percent, and financial sector giants including Discover, Chase and Capital One have all reported a sharp increase in the number of revolving debt accounts falling into arrears.
Much-needed relief from the most burdensome of debts
Medical costs remain at the top when it comes to debts that burden consumers. In 2016, 43 million American adults - 20 percent of the population - dealt with out-of-control healthcare-related debts negatively affecting their credit.
The effect of debt on older Americans
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 50 about the state of their finances.
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 a community property state. If the card is a rewards card, the company might apply the rewards toward the debt. If this is not enough to cover the debt, the credit card company might try to collect from the estate.
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.
