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June 2014 Archives

Why debt management companies should be avoided at all costs

For those toiling in debt, the promise of being debt free after working with a debt management company can be very persuasive. After all, who wants to deal with unrelenting creditors on their own. Creditors don’t care about the everyday struggles you go through in making ends meet, or how you essentially have to rob Peter to pay Paul every month.

Inherited IRAs could be subject to bankruptcy claims, court says

For people who are toeing the edge of financial solvency, any infusion of money can be a blessing. Whether expected or unexpected, having new resources to draw on in order to pay credit card bills, mortgage payments and medical expenses can be a giant relief.

New credit card debt report doesn't bring good news

A new report on credit card debt in the United States has been released, and the numbers do not paint a pretty picture. According to the new report, Americans paid off $32.5 billion in outstanding credit card debt in the first three months of 2014. You may read that figure and think that this represents a major achievement -- but it's 1 percent less than was paid in the same timeframe in 2013 and 5 percent less than the same timeframe in 2012.

Prescriptions can cause serious debt problems

One of the most frustrating elements of extensive medical treatment is prescription drugs. Medications certainly help us get over or cope with whatever malady or medical condition from which we are suffering, but they can also be wildly expensive. And when you consider that some of these prescriptions aren't merely a one-bottle prescription, but instead a part of a prolonged treatment that may take months or even years, then it's easy to see how the medical bills can soar.