I think about money all the time. I think about the bills that need to be paid, the things my kids need, and the fact that what's coming in currently is not enough to cover what needs to go out. Every day is a list of choosing. Of overdraft fees. Of cancellation notices. Every moment is a feeling of defeat and a pang of failure.
This past year I haven't written the way I used to. There have been so many other things I wanted to write about but I just wasn't ready. I wasn't brave enough. Maybe now because I literally have nothing to lose, I have once again found my voice and my courage. Yesterday I filed bankruptcy. Chapter 7.
Couples planning to blend families often have to make financial arrangements that respect previous relationships with ex-spouses and their families. Issues range from childcare and eldercare to potentially complex matters. That's why involving trained experts in stepfamily financial planning is a must.
Millions of Americans are still filing for bankruptcy because of medical debt, even though they have insurance. In 2015, families could be on the hook for 13,200 in out-of-pocket expenses before their coverage kicks in. That's far more than many household budgets will allow.
With Detroit having filed for bankruptcy and dozens of Illinois municipalities facing financial calamity over pension obligations they can't meet, a natural question is whether Illinois cities will follow Detroit's example.
The post-industrial dystopia emerging on the streets of Detroit may be shocking, but it is not surprising. The crisis results from the convergent forces of fiscal austerity and structural racism in a region defined by its extreme segregation of race, wealth and opportunity.
As we head into the final stretch before next week's midterm elections, Americans continue to have wide-ranging views of Obamacare, but even many who have an unfavorable view of it say they would rather see Congress improve it than get rid of it.
Bankruptcy protection is designed to provide people and companies with a way to discharge at least some of their debts and start over. And one of the very first steps to reboot your financial life involves rebuilding your credit score.
Where are we now? Income disparity soars, student loans threaten to be the next subprime mortgages, and millions of Americans struggle daily to make ends meet. Unmanageable, crippling debt is still harming millions of American families.
Even though there's so much variety in the market for credit scores, most scores are drawn from the same basic elements. Want to take some of the mystery out of credit score calculations?
There is little doubt that lack of sufficient money constitutes a major stress and contributes to bodily ills. Our attitudes toward money undergird much of our lives, impacting our lifestyle and sense of well-being. Yet many of us ignore the task of managing our finances, often with dire consequences.
In America, people with lots of money can easily avoid the consequences of bad bets and big losses by cashing out at the first sign of trouble. But workers who move to a place like Atlantic City for a job and invest in a home have no such protection.
As the result of an unprecedented "search and destroy" campaign by Occupy's Strike Debt Working Group and their Rolling Jubilee team, 2,761 individuals have been unburdened of their student debt to the tune of $3,856,866.11.
Buried within the bankruptcy of Detroit is a fundamental political and moral question: Who are "we," and what are our obligations to one another?
Is there a correlation between the drop in unions and the drop in defined benefits plans? It certainly seems like it. As defined benefit plans are going away, so is the safety net for older Americans. Most bankruptcy filers are under age 54, but there is a steady rise in bankruptcies of people over age 55.
The City of Adelanto, California, greets visitors with a sign, proclaiming it to be a city of "unlimited possibilities." However, when you drive through this small town in the Mojave Desert, it is clear the city is known for only one possibility: incarceration.