By: Jeena Cho

As a society, there are two things we don’t talk about. Death & Debt. Frequently, when people are experiencing financial distress, they go into denial mode. Instead of assessing their situation and tacking the problem, they deny thinking something will change. Of course, debt problems do not get better without proactive action. It gets worse. Interest rates continue to rise, you borrow from Peter to pay Paul.

If you are experiencing financial trouble, you should seek help. Go see a financial advisor, reach out and ask a friend or a family member. You will soon find that you are not alone in your problems.

For those of you that do not see any hope of being able to reduce your debt, we are offering a free seminar. If you do not want to attend in person, you can attend on the Web. It’s totally confidential. We’ll discuss the Continue Reading »

NYT article by: By RON LIEBER
Published: June 4, 2010

If you run up big credit card bills buying a new home theater system and can’t pay it off after a few years, bankruptcy judges can get rid of the debt. They may even erase loans from a casino.

Read more.

do I have to be current or behind on my payments before I can file for bankruptcy?

Potential client, sitting in my office, worn out and battered – having fought an unnecessary fight for too long. One of the most frustrating things I find as a bankruptcy attorney is meeting with clients that waited too long to come see me. They did what they thought was right – borrow or liquidate their 401(k), IRA, sell their cars, home, and other belongings, only to end up in my office.

Posted by Ismat Sarah Mangla
May 19, 2009 4:18 pm

Consumers scored a major victory on Tuesday as the Senate voted overwhelmingly in favor of a bill that restricts unfair credit card practices. The Credit Card Accountability, Responsibility and Disclosure Act passed by a 90-5 margin. The bill comes on the heels of similar legislation, known as the Credit Cardholders Bill of Rights, that was approved by the House on April 30 in 357 to 70 vote.

So what happens now? The Senate bill heads back to the House for a vote, and there’s a good chance it could hit the President’s desk before Memorial Day. But what do both bills mean for your wallet? Let’s look at the key provisions:

Retroactive rate hikes: Both bills ban hikes to interest rates on existing balances. So say you carry a $1,000 balance at 8%. If the rate on your card changes, the new rate Continue Reading »

Jobless rates rose in all the largest U.S. metropolitan areas for the fourth straight month in April, according to government data released Wednesday.