Rising debt. Growing tax bills. College tuition. Loans. If you sometimes feel like you're drowning in financial stress, you're definitely not alone. Money is a common source of stress, says a 2017 report from the American Psychological Association. Sixty-two percent of Americans say they worry about their finances, making monetary anxiety the second most common source of stress a... CONTINUE READING
If you are considering filing for bankruptcy, you are already having trouble paying your debts, so the last thing you need is attorney fees that are unaffordable. However, trying to avoid fees by filing bankruptcy on your own may cost you. Between filing and court fees and the possibility of making mistakes that will void your bankruptcy altogether, you may save nothing. You could wind up actually paying more or even have your bankruptcy end without having your debts discharged. To avoid... CONTINUE READING
If you are having problems managing your household debt, you are not alone. November 2017 statistics from the Federal Reserve Bank of New York showed that household debt rose by $116 billion, or 0.9%, to $12.96 trillion in the third quarter of the year. The most rapid increase in debt was seen in credit-card debt, which rose by 3.1%. Other gainers were mortgage, student and auto debt. Increasing debt is a big problem, but there are answers. The skilled and seasoned Ohio ba... CONTINUE READING
Ohio's Debt Crisis: Understanding the Causes and Finding Solutions Through Bankruptcy Ohioans are facing a debt crisis. The state consistently ranks among the top ten in the nation for personal bankruptcy filings. This financial distress stems from factors like the lingering effects of the Great Recession, stagnant wages, and the rising costs... CONTINUE READING
If you need a car but don’t have the credit score to qualify for a regular auto loan, you may be tempted to take out a subprime auto loan instead. This could prove to be a mistake, as the chances of financial problems resulting from these loans are growing, even to the point of endangering the economy. According to data from the Federal Reserve Bank of New York, delinquencies for subprime loans are nearing crisis levels at auto finance companies. The Fed report stated that the more than 2... CONTINUE READING
Finally, Equifax is going to do something to change its unfair policy that has been making it more difficult for Chapter 13 filers to remove the red flag of bankruptcy from their records. For a long time, Equifax has been keeping bankruptcies on credit reports for 10 years, while the other two major credit rating agencies, Experion and TransUnion, removed them after 7 years. The federal Fair Credit Reporting Act allows a bankruptcy to remain on credit reports for up to 10 years, but the credit... CONTINUE READING
You work hard at your full-time job, so you figure you should be able to pay your rent and put food on your table. Guess again. Some people making minimum wage in Ohio, are not going to be able to rent a median two-bedroom apartment without heading toward bankruptcy. According to new research by the National Low Income Housing Coalition, you would have to make more than t... CONTINUE READING
When you’ve worked hard to accumulate assets, the last thing you want is for your beneficiaries to lose it all if they find themselves having to file for bankruptcy. This can happen if your heirs wind up in financial trouble and have to face bankruptcy when their inheritance arrives. While assets from an estate can be just what people need to prevent bankruptcy, they can be lost if planned incorrectly. Money or retirement funds that come to your heirs directly... CONTINUE READING
If your bills and debts are becoming overwhelming, you may be tempted by advertisements that offer the promise of debt relief. Before you plunge into solutions that may actually worsen your debt situation, you should be aware of the advantages, disadvantages, and the long-term effects of each. The skilled and seasoned Ohio debt-relief attorneys at Fesenmyer Law Offices, LLC understand that financial problems can happen to even the most... CONTINUE READING
It is wonderful to receive an inheritance, but you may not be able to keep it if you have recently filed for bankruptcy. It all depends on factors such as timing, the way the inheritance was created, the exemptions you can claim, and what type of bankruptcy you have filed. The bankruptcy process is complex, so to increase the chances of keeping assets such as an inheritance, it pays to have the guidance of an experie... CONTINUE READING
Receiving anything from a mortgage lender that mentions the words “foreclosure” or “legal action” can be overwhelming. As soon as they read those words, many people have trouble understanding the rest of the notice. However, receiving a first notice from your mortgage lender does not mean...
