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
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
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 Law Offices, LLC understand that financ... CONTINUE READING
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
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
You work hard at your full-time job, so you figure you should be able to pay your rent and put food on your table. Guess again. Some people making minimum wage in Ohio, are not going to be able to rent a median two-bedroom apartment without heading toward bankruptcy. According to new research by the National Low Income Housing Coalition, you would have to make more than t... CONTINUE READING
Getting credit is easy in the United States, so it’s tempting to use credit cards and loans to make purchases you otherwise couldn’t afford. When you use debt wisely, it can be a positive way to build wealth. But too many people are sucked into taking on the wrong kind of debt, the dangerous kind that starts to lead to financial problems and having their credit ruined. The skilled and seasoned Ohio bankruptcy attorneys at Fesenmyer Law Offices, LLC understand that eve... CONTINUE READING
When you’ve worked hard to accumulate assets, the last thing you want is for your beneficiaries to lose it all if they find themselves having to file for bankruptcy. This can happen if your heirs wind up in financial trouble and have to face bankruptcy when their inheritance arrives. While assets from an estate can be just what people need to prevent bankruptcy, they can be lost if planned incorrectly. Money or retirement funds that come to your heirs directly... CONTINUE READING
It is wonderful to receive an inheritance, but you may not be able to keep it if you have recently filed for bankruptcy. It all depends on factors such as timing, the way the inheritance was created, the exemptions you can claim, and what type of bankruptcy you have filed. The bankruptcy process is complex, so to increase the chances of keeping assets such as an inheritance, it pays to have the guidance of an experie... CONTINUE READING
If you are a gun owner who is worried about losing your weapons when filing for bankruptcy, there is good news. Both Ohio and federal bankruptcy laws exempt certain property, so your guns may be part of the property you wind up keeping. Most of the time, the federal property exemption is large enough to protect your firearms; but what is even better is that Ohio is one of the states that specifically names firearms in its list... CONTINUE READING
