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Mounting Automobile Debt Could Disrupt Economy

If you need a car but don’t have the credit score to qualify for a regular auto loan, you may be tempted to take out a subprime auto loan instead. This could prove to be a mistake, as the chances of financial problems resulting from these loans are growing, even to the point of endangering the economy.  According to data from the Federal Reserve Bank of New York, delinquencies for subprime loans are nearing crisis levels at auto finance companies. The Fed report stated that the more than 23 million consumers… CONTINUE READING

What Happens When a Case is Dismissed Without a Discharge?

When you file for bankruptcy in Ohio, you want your debts to be discharged -- eliminated -- so that you can receive a fresh financial start. However, there are times when situations change, and you no longer wish to continue with the bankruptcy, or you made mistakes or have problems, and your case winds up being dismissed and ended without discharge by the court. If your bankruptcy case is dismissed, it will still appear on your credit report. A bankruptcy will typically stay on your credit report for 7-10 years. You… CONTINUE READING

Americans Spend More After Retirement

Should people entering retirement cut their spending to make their money last, or spend more to make the most out of life?  It depends on circumstances, but more than half of taxpayers are spending more during the first three years after they start collecting Social Security. According to a report based on tax data and analyzed by economists at the Investment Company Institute and the IRS, those most likely to spend more are people who have lower incomes. Middle-income earners spent about the same, and the higher-income earners spent somewhat less than… CONTINUE READING

Equifax Changes its Bankruptcy Policy

Finally, Equifax is going to do something to change its unfair policy that has been making it more difficult for Chapter 13 filers to remove the red flag of bankruptcy from their records. For a long time, Equifax has been keeping bankruptcies on credit reports for 10 years, while the other two major credit rating agencies, Experion and TransUnion, removed them after 7 years. The federal Fair Credit Reporting Act allows a bankruptcy to remain on credit reports for up to 10 years, but the credit reporting agencies have leeway to… CONTINUE READING

Avoid These Mistakes to Improve Your Credit Score

Your FICO credit score is something you may not think much about until you need it for making a big purchase, but it affects you in more ways than you think. In fact, according to new data by LendEDU, an online marketplace for student loan refinancing, one in five Millennials have never even checked their credit score. This is a big mistake. Your credit score comes into play not only when you want to buy a car or rent an apartment, but in areas that include the interest rates you… CONTINUE READING

Household Debt Reaches a Record High

Americans are getting back into the bad habit of thinking they can get whatever they want with borrowed money – the very thinking that caused major problems during the Great Recession. According to the August quarterly household debt and credit report by the New York Federal Reserve, Americans' debt rose to a new record high in the second quarter. There was an increase in every form of debt -- from mortgage, to auto, student and credit card debt. As of June 30, 2017, total household indebtedness was $12.84 trillion, a… CONTINUE READING

Famous Cases of Personal Bankruptcy

If you find yourself bogged down with so many financial problems that you are considering bankruptcy, you’re in good company. Money problems can occur even to the richest and most famous celebrities. Just like the average person, when the rich and famous make mistakes or mismanage their funds, they can wind up harassed by creditors and faced with foreclosure of their homes, repossession of their cars, and loss of their assets. Fortunately, for anyone in a situation where debt is more than they can handle, bankruptcy can be a valuable… CONTINUE READING

Economic Trends That Could Impact Your Wallet in 2018

It’s a new year, the perfect time to evaluate your finances and determine whether you are on the right path to financial solvency. While there are personal things that you should do, such as creating a budget and sticking to it, there are also some economic trends you should be aware of that may help you make decisions for the coming year. The skilled and seasoned Ohio debt-relief attorneys at Fesenmyer Cousino Weinzimmer understand that financial problems can happen to even the most well-intentioned people. We believe that it pays to be knowledgeable… CONTINUE READING

Personal Finance Resolutions for 2018   

The New Year brings the promise of new beginnings, so it is the perfect time to examine your finances and make some changes for the better.  Good financial resolutions that you can stick to can help get you closer to your money goals, and keep you from making mistakes that get you into financial trouble. The experienced Ohio bankruptcy attorneys at Fesenmyer, Cousino, Weinzimmer understand that financial problems can happen to the most hard-working and well-intentioned people.  We offer a free consultation to examine your individual financial situation, your debts… CONTINUE READING

Poverty is Skyrocketing Among Millennials

Millennials are having problems making ends meet. About 57 percent of them named poverty and economic inequality as their top concern in a survey conducted this spring by the Center for Marketing and Opinion the latest studyfrom WalletHub, Americans are piling on credit card debt at levels that rival the heart of the recent financial crisis, and the average household with debt now owes $7,941 to credit card companies.  In addition to credit card debt, millions of people are struggling with debts that include debts for mortgage, medical, and student loans.… CONTINUE READING

If you need a car but don’t have the credit score to qualify for a regular auto loan, you may be tempted to take out a subprime auto loan instead. This could prove to be a…

When you file for bankruptcy in Ohio, you want your debts to be discharged -- eliminated -- so that you can receive a fresh financial start. However, there are times when situations change, and you no…

Should people entering retirement cut their spending to make their money last, or spend more to make the most out of life?  It depends on circumstances, but more than half of taxpayers are spending more…

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