Proposal to ease students’ debt burden
In legislation recently proposed by a senator, students who took out private loans may have them discharged in bankruptcy cases, an article by the Huffington Post stated on June 25.In the Higher Education Affordability Act introduced by Senator Tom Harkin...
U.S. foreclosure activity steadily decreased in the last 8 years
A recent report by real estate firm RealtyTrac stated that there has been a steady decline in foreclosure activity in the last eight years, CNBC reported on June 10.Reports said that in May, banks acquired fewer homes and property owners filed for fewer...
University athletes also burdened by student debt
College students in the U.S. who represent their schools through sports are also burdened by student debt after school is over, a Forbes article stated on June 3.Though some college jocks are privileged enough to be rewarded with complete or partial...
Foreclosure activity across U.S. continues to drop
Fortunately, the U.S. housing industry observed a 1% decrease in foreclosure rates for the month of April, Reuters reported on May 15. Foreclosure activity including bank repossessions, foreclosure notices, and auctions is overall 20%...
80’s heartthrob Lorenzo Lamas filed for bankruptcy
After accruing a debt of more than $300,000, actor and reality-TV star Lorenzo Lamas filed for Chapter 7 bankruptcy, Mail Online reported on April 29.Reports said Lamas, who currently does not have any source of income as a freelance actor, has a debt of $322,000. The...
“Meet the Parents” star files for bankruptcy
Teri Polo, who was well known for her role as Pam Focker in the movie franchise “Meet the Parents”, recently filed for bankruptcy in Los Angeles, theHuffington Post reported on April 23. According to reports, Polo had accumulated debts to million dollars. The...
Amount of first quarter foreclosures decreases
RealtyTrac recently reported that the U.S. housing market has recovered considerably since the 2008 economic downturn. This month, the housing market observed the lowest statistics regarding foreclosure activity since 2007.Reports said that since March, lenders...
Agency reports that payday loans can be financially destructive
A recent federal report indicates that many of the people that borrow payday loans are often trapped into debt because of the loans’ high interest rates.The report released by the U.S. Consumer Financial Protection Bureau showed that more than 80% of short-term loan...
U.S. foreclosure rate reaches its lowest since 2006
Recent data from real estate research firm RealtyTrac shows that the number of U.S. homes in foreclosure last month marks the lowest since 2006, Forbes reported on March 13.According to the data from February, at least 112,498 properties nationwide were in various...
Rapper’s $1 million NY property facing foreclosure
Rapper Earl Simmons, commonly known as DMX, is currently losing his $1 million property in Mount Kisco, New York to foreclosure.Simmons blames his estranged wife for the foreclosure, saying that she didn’t take responsibility for the mortgages, as previously agreed...
Number of foreclosure filings decrease by 18 percent from 2013 to 2014
An 18 percent dip in the number of U.S. homes that filed for foreclosure was noted from January 2013 to January 14, according to RealtyTrac.Though last month there was a 10 percent increase from December to January in the number of homes that entered foreclosure...
Number of foreclosures drop in 2013, reaching a six year low
A huge improvement in the U.S. housing market was observed in 2013 after the number of homes entering foreclosure not only continued to decrease, but also hit a six year low, according to real estate information firm RealtyTrac.A decrease of 31 percent was observed in...
Ex-Baywatch actress seeks bankruptcy protection
Nicole Eggert, who is well-known for her Baywatch role, recently filed for Chapter 13 bankruptcy to protect her property.According to reports, the 42-year-old actress will have an opportunity to continue paying her mortgage to prevent her house from being liquidated....
Eddie Montgomery filed for Chapter 7 bankruptcy
Eddie Montgomery of the famous country music duo, Montgomery Gentry, sought personal bankruptcy protection at the end of December.Montgomery, 50, filed for Chapter 7 bankruptcy after accruing a large amount of debt due to his recent divorce and the failure of his...
U.S. foreclosure crisis nearing end
A decline in foreclosure activity in a majority of the states in America was observed by RealtyTrac, a real estate research company, last month, a report by USA TODAY stated on Thursday, December 12.RealtyTrac said foreclosure activity last November decreased by 37...
Aaron Carter files for bankruptcy
Pop artist Aaron Carter recently sought bankruptcy protection due to a debt of more than $2 million, a majority of which was unpaid back taxes, an article from CNN reported on Friday, November 22.According to the bankruptcy petition filed by Carter, the former teen...
Study shows southerners owe more in auto loans
A recent analysis showed that most people who owe a lot on their auto loans live in the southern cities of America, a USA TODAY report showed on Saturday, November 16.According to a recent analysis by Manilla.com, Shreveport, New Orleans, and Houston were on the top...
Major investors in Energy Future strive to minimize losses
Investment firms KKR & Co., Goldman Sachs Capital Partners, and TPG Capital spearheaded the $48-billion buyout of Energy Future Holdings Corp., the biggest power plant owner in Texas. Now, they are striving to get barely 3% of their initial investment back since...
Simon Webbe of band “Blue” files for bankruptcy
After accumulating thousands of pounds in debts owed to creditors, “Blue” band member Simon Webbe recently announced to the public that he filed for bankruptcy.Webbe filed his bankruptcy papers in September in a high court of London weeks after other “Blue” member...
Rapper exits bankruptcy
Rapper David Darnell Brown, better known as “Young Buck,” is getting a fresh financial start after exiting bankruptcy, a report stated on Thursday, September 19. The rapper filed for bankruptcy three years ago.According to reports, the Tennessee rapper has paid some...
Governor Bentley announces new measure to protect against payday loans
On September 18, Alabama Governor Robert Bentley signed a new consumer protection measure that will help people from taking on exorbitant debts as a result of payday loans.As the Alabama Deferred Presentment Services Act does not allow payday lenders to give people...