5 Drawbacks of Filing For Bankruptcy

Many people think that bankruptcy is the best option for them when facing a seemingly unconquerable financial problem. However, filing for personal bankruptcy comes with a number of disadvantages. It is important to take these disadvantages into consideration and pursue alternative methods of debt relief that may be more beneficial for you specifically. Impaired Credit…


Avoiding Wage Garnishment for Piling Medical Bills

According to the Consumer Financial Protection Bureau, millions of Americans have medical collections listed on their credit reports each year. This is because, unfortunately, many people find it difficult to pay their medical bills. To make matters worse, nonprofit hospitals attempt to garnish the wages of those who cannot pay – a drastic action that extends beyond simply reporting the owed bills to the credit bureaus and involves going to court.

This practice is widely used in a few states throughout the United States. Missouri is home to a hospital that has sued more patients than any other. However, that nonprofit hospital was also found to own a for-profit collection agency, which has filed thousands of lawsuits against patients of the hospital. Not surprisingly, many of those patients had low incomes, making wage garnishment devastating.


10 Ways to Recover from Holiday Overspending

If you are like many people, you probably have a habit of overspending during the holidays. This is normal even when you have set a budget for your spending, especially when you spot that perfect gift for a certain person. On top of buying presents, there are many other things happening, like parties with those close to you who you may not have seen for some time or work-related events.

So many events can easily hit you in the wallet; but fortunately, there are some ways you can bounce back from this financial setback. Below are several tips for how to recover from holiday overspending.