June 2013 Archives

Medical Bills Often 'Root Cause' Of Personal Bankruptcy

Medical bills are the problem, according to Dan Mangan with CNBC, who reports on NerdWallet Health's bankruptcy study. The study looked at numbers from a variety of sources, including the U.S. Census and federal courts, and concluded that for millions of Americans healthcare expenses are at the top of the list of problems when it comes to making ends meet.

Sometimes the solution to financial problems is to cut the cards

Since the start of the recession many Illinois residents have had to use their credit cards for basic needs such as groceries, utilities and even rent. This has left a lot of people with financial problems that they are struggling to deal with. Cutting up those credit cards and closing the accounts may be the right thing for some people to do even though it's not recommended.

Interest Rates On Some Student Loans Might Double Within Weeks

David Jesse with the Detroit Free Press reports that the government is projected to make billions in profits off student loans in 2013, and if it actually hits the projected $50 billion mark this year, it will be more profitable than (or at least keep pace with) Exxon Mobil, which made close to $45 billion in profits last year, as Jesse writes, making Exxon the most profitable company in the nation.

How bankruptcy affects Illinois consumers' ability to get credit

Bankruptcy can give an Illinois consumer that is struggling with his or her debt a fresh start financially that wouldn't otherwise be possible. However, what happens next may be unclear to some people. There is a question as to whether credit will be available to someone who has filed bankruptcy.

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