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September 2013 Archives

Musician's Chapter 7 filing clears debts to IRS, fellow artist

Financial hardship can strike anyone, rich or poor. While that may sound like a contradiction, consider all of the once rich and famous individuals who have filed for bankruptcy in the recent past.

MA residents may find debt relief offers to be worthless

Previous posts on this blog have warned Massachusetts residents to beware of certain companies that promise to help a person, who is often struggling to make ends meet, by eliminating their debt quickly. In fact, many of these companies may simply take that struggling person's money and give back nothing whatsoever, leaving that person in a worse financial situation than before.

College football coach uses Chapter 7 to get debt relief

Massachusetts residents who follow college football regularly may have heard that the former interim coach of a major university recently settled his bankruptcy case. As a result of the coach's Chapter 7 bankruptcy, he will potentially receive a discharge of over $40 million in personal debt, and be able to keep some of his properties and other assets.

Massachusetts residents carry above-average credit card debt

According to a recent report, Massachusetts residents carry an average credit debt balance that is slightly above the national average. According to a recent report, the average Massachusetts resident carries $5,142 in credit card debt, compared to the national average of $4,965. Compared with the other states, Massachusetts ranks 19th with respect to average credit card balances.