Coronavirus Shutdown Is Affecting Debt Reporting and Foreclosures

In the midst of all the chaos and uncertainty surrounding the coronavirus pandemic, some consumers are looking for ways to tighten their belts and prioritize finances.  For other consumers who were already behind on their bills, the virus could spell financial disaster.  This is especially true of workers who abruptly lost their jobs due to mandatory business shutdowns.  Experts say, at a time like this, it’s important to prioritize food, shelter, medical needs and utilities.&nb... CONTINUE READING

Be on the Lookout for Cell-Phone Account Fraud

Your cell phone is a great convenience, but it also provides a dangerous privacy threat that can have a devastating impact on your finances.  By setting up a phony cell-phone account in your name, criminals are able to access your bank account, sign up for credit cards and run up huge bills you will be responsible for, or sell the phone number to other criminals. Unfort... CONTINUE READING

A Connection Between Credit Card Debt and Your Health?

Credit card debt can be bad for your health as well as your pocketbook, but if you aren’t paying off what you owe each month, you have plenty of company.  According to the American Bankers Association, 43 percent of card holders carry a balance each month, and the Federal Reserve reports that outstanding card debt has hit its highest point ever, surpassing $1 trillion in 2017.... CONTINUE READING

Should You Link Your Bank Accounts to Third-Party Financial Apps?

Personal finance apps are convenient and provide benefits such as saving money and managing your investments from your mobile devices, but they also put you at increased risk for having your financial information hacked. Services such as Mint, Paypal, Venmo, and Digit, as well as apps from your bank and investment company, allow you to make financial transactions over your mobile phone and computer. Theses services claim to provide the highest degree of security.  However, with hackers getting... 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 pay on loans, t... 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.... 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 the... 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 fina... 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 Research for the University of Akron's Bliss Institute of Applied Politics. The survey showed that concern about poverty or inequality was most severe among millennials, but got better with age, dropping to 43 percent for Generation X (born between 1965 and 1984). Ohioans are suffering f... CONTINUE READING

Does the American Dream no Longer Include Home Ownership?

Owning a home has always been a big part of the American Dream.  Children of hard-working parents grew up believing that if they worked hard to get ahead, they could have a better life than the previous generation, and that included having their own home. However, recent statistics show that this dream has been starting to crash. According to a ... CONTINUE READING

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    How to File for Bankruptcy in Ohio

    If you are struggling financially and are overwhelmed with debts that have become unpayable, you may need a “fresh start.” Filing for bankruptcy with an Ohio bankruptcy attorney can provide just that. The bankruptcy process can put you on the road to financial recovery. Below is a...