Dec 5 2009
Bankruptcy Filings up 100 Percent from 2007: Americans Financially Unable to Meet Current Debt Payments. 85 Percent of Chapter 7 Filings are Classified as No-Assets.
The U.S. Courts released data last week closing out the 2009 fiscal year. In the release we find that bankruptcy filings are up 100+ percent from 2007. No other economic vehicle shows deeper signs of financial strain than bankruptcy. Bankruptcy is the end of the road for many Americans. Although businesses file for bankruptcy as [...]
Dec 3 2009
FICO and the Credit Card Financial Prison: How a Three Digit Credit Score Reflects Consumerism and not Financial Independence.
Americans carry $900 billion in credit card debt. Approximately 75 percent of all those eligible for credit, those that are 18 years or older, have a credit rating score at any given time. This mysterious three digit score named a FICO Score is the basis for loans, interest rates, and should reflect your ability to [...]
