Statistics from the Employee Benefit Research Institute determined that Americans age 55 and older face an increased rate of debt. From 1992 to 2013, the number of families with individuals in that age range struggling with debt rose from 53.8 percent to 65.4 percent. People who are retired have also amassed certain types of debt,…
Debts are part of everyone’s day-to-day life. Most people use credit cards, take out loans, and finance large purchases at some point in their lives. There is such a thing as good debt, and that’s the kind that gets you a higher credit rating. On the other hand, a person can overspend. Sometimes there are…
If you decide to close your business, you’ll have to liquidate its assets. Simply put, this means that you’ll be turning any remaining business assets into cash. Assets include tools, equipment, and furniture. In most cases, the proceeds will be used to pay off creditors, but if your business is relatively debt-free, a significant portion…
Small business owners experiencing an unexpected cash deficit may find themselves in a position where it’s necessary to liquidate portions of their assets. If you’re a business owner selling your company’s assets, you may have to choose between how much you can earn, and how quickly you can sell those assets. If a business is…
Medical debt is the top reason that people file for bankruptcy. When a person files for bankruptcy, their debt is put into one of two categories: dischargeable and non-dischargeable. While you may not be able to get rid of debts like student loans when you file for bankruptcy, you can eliminate your medical bills. How…
A credit card balance transfer allows a person to move debt from one credit card to another credit card. A person might opt to do this if they want to simplify their finances and move all their credit debt to just one card, or to avoid paying high interest on the original card. The amount…
The conversation about MIllennials killing industries left and right is one being had around the nation. Deemed responsible for everything from the decrease in cereal sales to numerous department stores closing their doors, the Millennial generation is seen as one of the most disruptive, but it’s not entirely their fault. Millennials are the “kids” of…
For anyone who has graduated from an institution of higher learning or at least attended one, you may have had to take out a student loan. As convenient as they may have been, one often doesn’t realize the full scoop of the debt they’re accruing until it’s time to pay it back. This generally begins…
Louisiana is home to millions of debtors. One thing that they all have in common is the desire to live a debt-free life. With this in mind, many of them pursue debt relief options to help them get closer to that ultimate goal. Debt consolidation tends to top the list for many debtors as it…
As millions of Americans struggle to make ends meet, the need for immediate cash is one that many people share. While some choose to pawn personal items or seek the assistance of a family member, many others choose to get cash advances in the form of payday loans. Low-income families most commonly utilize this service…
