Credit card debts often start small. You use it to cover a sudden medical emergency or make ends meet during tough times. Before you know it, your credit card bills become overwhelming. You are not alone in this struggle. Millions of Americans experience the same...
Credit card delinquency rates among people in their 20s and 30s are rising, and it is easy to see why. Rent, groceries, healthcare—everything seems to be getting more expensive while salaries have barely increased in years. When your paycheck does not stretch far...
Have you ever wondered about the different types of loans available to you? One option that often comes up is secured debt. But what exactly is it, and how can it benefit you What is secured debt? Secured debt is a loan where you offer an asset as collateral. This...
Credit card debt can quickly spiral out of control, leaving you feeling overwhelmed and financially stressed. However, with the right strategies, you can take charge of your debt and work towards a more secure financial future. Below are effective methods for managing...
In Michigan, creditors have up to 6 years to collect credit card debt or to obtain a judgment on it. Michigan residents might find this information useful, as credit card delinquencies have reached an all-time high across the country. Federal Reserve Bank data The...
When inflation reached a four-decade high in mid-2022, millions of consumers in Michigan and around the country began using their credit cards to pay for necessities like groceries. They were dealt another blow when the U.S. Federal Reserve started to increase...
The average interest rate on a credit card balance is 21.5%, which is the highest since the Fed started tracking such rates in 1994. Interest charges and fees may make it difficult for Michigan residents to pay down their balances in a timely manner. However, there...
The number of people struggling with credit card debt only seems to increase each year. You may have tried to alleviate your Michigan financial burdens with little or even no success. This is because the rise in credit card debt has reached alarming heights; these are...
Chapter 7 is the bankruptcy choice for most individual filers in Michigan. It gives you a fresh start with your finances. The only downside is it takes some time to rebuild your credit. The good news is that with patience and discipline, rebuilding your credit after...
Michigan residents file personal bankruptcies when their financial situations become unmanageable and their debts become inescapable. The Bankruptcy Code does not establish a minimum amount of debt that an individual must have to qualify for Chapter 7 or Chapter 13,...
