Personal credit cards have become an institution in today’s economy. But while they can be useful in allowing people to enjoy things that they might not otherwise be able to acquire right away, they also open up an avenue for the same people to quickly get into financial trouble.
It has the makings of a riddle: Where can you find a place where sales of existing homes are both a buyer’s market and a seller’s market while still being an underperforming market compared to most everywhere else -- all at the same time?
Seeking bankruptcy protection from creditors is a step that should not be taken lightly. But if you have reached a point where that has become a serious consideration, you may be aware that there are two types of bankruptcy available to individuals: Chapter 7 and Chapter 13.
In June of this year, we discussed a case involving the Federal Trade Commission punishing a subprime lender for illegal debt collection practices. In that post, it was noted that the lender had to pay millions of dollars in fines for various violations regarding their debt collection practices.