How do you go from being on top of the world with a multimillion dollar contract to filing for bankruptcy? By spending like it is never going to end. Former football superstars are finding that out the hard way.
My students are left facing a quandary: if they don't spend thousands of dollars to get educated, they won't end up earning the money they need to afford a middle class lifestyle. But if they borrow the thousands of dollars for an education, they'll end up spending their careers burdened by debt.
Debt is the four-letter word Americans hate to hear. Today, the average American household has debts totaling around $7,200. According to Aimee Picchi on CBS Moneywatch, American household credit card debt is increasing despite the fact that average household earnings have not experienced a similar increase to account for that new debt.
Not all consumers would be willing to adopt that approach but recent cases confirm it can be a successful strategy to crawl out from under life crushing student loan debt.
The economic crisis in the island is suffocating the people. Water and electricity bills have skyrocketed. Public services are far, way far, from good.
Trump seems to think he's reenacting the "Swift Boat Veterans for Truth" campaign against John Kerry. But in reality, it's more like the Romney 2012 nomination speech that ignored the military, as well as the former CEO's ineffective battle against McCain for the nomination.
They say history has a way of repeating itself, and that certainly seems to be the case when it comes to big name celebrities losing substantial amounts of wealth.
There's a lot of unrepayable municipal and private debt out there, and there will be more Detroits and Puerto Ricos to reckon with. We have to face up to a miserable dilemma: Who suffers when governments can't repay the money they borrowed?
The Department of Education has just released guidance on how it will handle bankruptcy discharge requests for government backed student loan debt. And while the guidance is helpful, it's also a bit disingenuous in that it places the burden on students who believed what schools and colleges sold them as a smart financial move.
Trump has come out claiming he has never personally filed bankruptcy. And that is absolutely true. But in his defense he has made the case why bankruptcy is both legal and a good move at times.
The governor is not asking for the federal government to bail them out of this problem. Puerto Rico only asking for the right to declare bankruptcy, which is the same right that states have. Because Puerto Rico is not a state, it cannot avail itself of the provision in federal bankruptcy law that enables cities like Detroit to restructure its debt in an orderly fashion.
I seem to spend a lot of time educating people that most everything they know about bankruptcy is just plain wrong. In fact a friend of mine just told me they were going to file bankruptcy and my answer was, "congratulations."
Divorce property division involves numerous financial and legal issues. The following is a brief list of 20 questions, among many, that must be resolved.
The overarching legal standard in situations involving children is "the best interest of the child." This standard invites a broad factual inquiry. Under this umbrella, couples in child custody contests present negative evidence concerning each others conduct.
Jim Ruchalski, a pack-a-day guy, has gone to a lot of trouble to clear the stale-smoke scent out of his apartment. That's why the candles are burning and the fans are humming on high.
Many Chicagoans write off the relentless comparisons of their city to bankrupt Detroit. After all, Chicago isn't a run-down, empty shell of a city. It doesn't rely on just one industry to survive. And it certainly hasn't lost 60 percent of its population like Detroit has.