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Debt has consequences, some of which will surprise the average American. No, we’re not talking jail time. Debtor’s prisons were abolished nearly two hundred years ago, but untamed debt can…
Handling Credit Card Debt While Unemployed A strange thing happened when the COVID-19 economic shutdown hit the United States — millions of Americans did NOT go further into credit card…
If there’s an upside to the economic trauma brought about by the coronavirus pandemic — stipulated: we’re straining for a silver lining here — it’s the number and variety of…
America is finding it harder than ever to pay off credit card debt. Total credit card debt is $1.115 trillion in 2024, according to the Federal Reserve. That’s up $129 billion in…
Remember the good old days? Just a few long months ago, the economy was roaring and nobody outside Wuhan had ever heard about coronavirus. Now millions of Americans are in…
Job layoffs are an all-too common experience of American work life. Some 20.2 million people looked for work after being laid off in 2024, according to the U.S. Bureau of…
There’s an estimated $58 billion in unclaimed money out there waiting to find a home and it’s probably worth the time and aggravation to see if any of it belongs…
Resolution: 2026 is the year you’ll get financially organized, day by day. You know the drill this time of year. In the coming weeks, lots of print and even more…
Some debates have no set answer, like which band was better – The Beatles vs. The Rolling Stones? Stocks vs. Mutual Funds isn’t quite as captivating, if for no other…
Credit scores range from 300 (terrible) to 850 (terrific), but two magic numbers in between are 650 and 750. Someone with a credit score lower than 650 risks being turned…
Sources:
- Black, M, Adams, D. (2022, September 27) What to Do When You Get Sued for Credit Card Debt. Retrieved from: https://www.forbes.com/advisor/credit-cards/what-to-do-when-you-get-sued-for-credit-card-debt/
- Luthi, B. (2018, December 7) What Happens When Your Credit Card Company Sues You? Retrieved from: https://money.usnews.com/credit-cards/articles/what-happens-when-your-credit-card-company-sues-you
- Johnson, A. (2021, May 18) Average credit card debt statistics. Retrieved from https://www.creditcards.com/credit-card-news/credit-card-debt-statistics-1276/
- Susswein, R. (2021, February 26) New federal debt collection rule coming in 2021. Retrieved from https://www.consumer-action.org/news/articles/winter-2020-2021
- Pyles, S. (2019, February 13) Sued for Debt? Here’s What to Expect. Retrieved from https://www.nerdwallet.com/article/finance/sued-for-debt-what-to-expect
- Detweiler, G. (2019, July 4) 7 Ways To Defend a Debt Collection Lawsuit. Retrieved from https://www.credit.com/blog/seven-ways-to-defend-a-debt-collection-lawsuit-62166/
- Luthi, B. (2018, December 7) What Happens When Your Credit Card Company Sues You? Retrieved from https://creditcards.usnews.com/articles/what-happens-when-your-credit-card-company-sues-you
- Holmes, T. (2013, March 8) Taken to court for card debt? What to expect and how to respond. Retrieved from https://www.creditcards.com/credit-card-news/debt-court-expect-1282/