Category Archives: Debt
Surprise Medical Bills Are About To Become Less Surprising
Sometimes the most painful part of an injury is the cascade of bills you receive in the weeks and months following an emergency room visit. You think you know how much to expect, because your health insurance charges a flat fee for emergency room visits, so the bill from the ER itself isn’t so… Read More »
Debtors’ Examinations: Make Sure Your Lawyer Is Present
Even people who are financially secure are usually uncomfortable talking about their finances; there is a reason for the etiquette rule saying that you should not talk about religion, sex, politics, or money except with people you know very well. If you received an allowance as a child, your early memories about money probably… Read More »
To Stay In College Or To Drop Out: A Debt Lawyer’s Perspective
When you were in high school, your guidance counselors and representatives from expensive test prep companies promised you that going to college would be a fun-filled road to riches, but now that you are still a junior after eight semesters, their megawatt smiles have long since faded from memory. It’s easy for the Internet… Read More »
The Only Three Situations Where You Can Be Responsible For A Family Member’s Credit Card Debt
Click on any advice column about family relationships, and you will find a lot of questions about relationships that have become strained because of money. Family members shame each other about financial decisions of which they disapprove, and less wealthy relatives resent wealthier ones for not being more generous with them. Most of the… Read More »
Parent PLUS Loans Are A Recipe For Generational Financial Hardship
Every parent wants to help their children succeed. Starting a college savings fund when your child is born is an admirable goal, but it simply is not feasible for most parents who belong to a generation where more than half of Americans cannot afford a $400 emergency expense. To make matters worse, the price… Read More »
Options for Reducing Medical Debt
It is very easy to fall into medical debt, even when a person has insurance. Many insurance policies have high deductibles and low coinsurance rates, not to mention co-pays for things like office visits and prescription drugs. Even relatively simple medical procedures could cost thousands of dollars, and if a person needs surgery, then… Read More »
Health Reform Legislation Has Not Helped Reduce Bankruptcies
A health crisis can make it extremely difficult to stay financially solvent. Many Americans lack sufficient health insurance and swiftly find themselves in tens of thousands of dollars of debt. As reported by CNBC, a recent study has found about two thirds of bankruptcies are related to health issues, which cause them to incur… Read More »
Credit Cards are the Most Popular Method of Payment
A cashless society might be a reality at some point in the future, and a recent report from Mercator Advisory Group shows that many Americans will be prepared if that day ever arrives. Mercator’s Insight Summary Report highlights an interesting fact: credit cards are now the most popular payment method in stores, replacing cash,… Read More »
Can Financial Coaching Help Pay off Student Loan Debts?
It’s no secret that student loans are a drag on the lives of college graduates. According to the latest statistics, about 70% of students who earn a bachelor’s degree end up with student loan debt, and the average debt load is $35,000 per person. And about one third of people with loans will have… Read More »