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.
We've heard about the most spectacular falls -- such as Mike Tyson and Kareem Abdul Jabbar -- but, unfortunately, this sad outcome is far from rare.
There's a proverb that says that the real measure of your wealth is how much you'd be worth if you lost all your money. And for me, no truer words have ever been spoken!
Lawsuits can be messy affairs, and the one filed in 2013 by financial investor Edward Houillion against a print studio (Seikilos FX Studios) in Dallas, Texas, is a mess that has sucked in a number of artists.
People who haven't been through hard times consider themselves smarter and wiser for having avoided the wall you hit. But what they don't understand is if we garner the necessary wisdom and lessons from this experience, those of us who went through hard times can actually be better off.
Take a trip to Detroit, where everything from the city's economy, to countless of its neighborhoods, to crucial civic-services that its residents need to live healthy happy lives, all seemed to have collapsed.
The extent to which I used to soothe my own ruffled feathers by doing a little shopping came as a bit of a surprise to me. I was never crazily crazy (...
Money. Having it, not having it, not having enough of it -- this ends up being a big, hairy monster for an awful lot of people. Talking ab...
While the seas will be rough, you don't have to feel like you bought a ticket on the Titanic. If graduates face repayment in an open way, communicating regularly with lenders, there are solutions -- although none of them get you a Get Out of Debt Free card.
Warren knows from experience and writes with warmth that every day in America there are boys and girls asking moms and dads why the family car is gone, why the family home was taken away, why Mom or Dad has lost a job, and why so Americans live from paycheck to paycheck, desperately struggling to make ends meet.
We don't know how much was in that account. We do know it barely amounted to pocket change for Cerberus, which stands to profit handsomely from the wind-down of World Airways and the sale of assets from a sister airline.
Most people know it's important to have good credit, but they don't want to spend too much time worrying about it. The good news is that you can be pretty lazy and still improve your credit.