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Bankruptcy Blog

Why a Bankruptcy Attorney Must Be Affordable

If you are considering filing for bankruptcy, you are already having trouble paying your debts, so the last thing you need is attorney fees that are unaffordable.  However, trying to avoid fees by filing bankruptcy on your own may cost you.  Between filing and court fees and the possibility of making mistakes that will void your bankruptcy altogether, you may save nothing.  You could wind up actually paying more or even have your bankruptcy end without having your debts discharged. To avoid... CONTINUE READING

The U.S. Household Debt Problem is Steadily Getting Worse

If you are having problems managing your household debt, you are not alone. November 2017 statistics from the Federal Reserve Bank of New York showed that household debt rose by $116 billion, or 0.9%, to $12.96 trillion in the third quarter of the year. The most rapid increase in debt was seen in credit-card debt, which rose by 3.1%. Other gainers were mortgage, student and auto debt. Increasing debt is a big problem, but there are answers. The skilled and seasoned Ohio ba... CONTINUE READING

Understanding the High Rate of Bankruptcy Filings in Ohio

Ohio's Debt Crisis: Understanding the Causes and Finding Solutions Through Bankruptcy Ohioans are facing a debt crisis. The state consistently ranks among the top ten in the nation for personal bankruptcy filings. This financial distress stems from factors like the lingering effects of the Great Recession, stagnant wages, and the rising costs... CONTINUE READING

A Rule of Thumb for Retirement Savings

In order to live comfortably in retirement, we have to save during our working years.  What we don’t know is how much we need to save to have enough during retirement and how much we can withdraw from our savings so that we can enjoy our “golden years” while making sure our money lasts as long as we do. The skilled and seasoned Ohio debt-relief attorneys at Fesenmyer Cousino Weinzimmer understand that financial problems can happen to even th... CONTINUE READING

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 2... 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... 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

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