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October 2013 Archives

More auto loans being made to subprime borrowers

The choice whether or not to take out an auto loan can be a big one. The borrower may be committing himself to years of repayment, high minimum payments, and high interest rates. This might be especially true in today's auto loan market where subprime loans are becoming more common. In fact, 27.4 percent of new auto loans made in the second quarter were made to subprime borrowers, up two percent from last years.

Medical expenses drive many to file for bankruptcy

Many Massachusetts residents are struggling to get by. The poor economy may have left them with stagnate wages, low pay, or unemployment. When unexpected life changes hit, these individuals may be left in a dire financial predicament. Sometimes these situations are so extreme that individuals have to choose between paying bills and buying food. No one should have to live like this, but unfortunately many who receive medical care are struggling financially.

Companies operating a nursing home file for Chapter 7 bankruptcy

Keeping a business afloat can be extremely difficult. Market forces outside of a business owner's control, including low demand and competitors with lower operating costs, might lead to unexpected financial challenges. When bills go unpaid, creditor harassment may leave a business owner stressed and not knowing where to turn. Perhaps the best place to turn is to an attorney whom can help the business owner seek a fresh financial start through Chapter 7 bankruptcy.

Many still struggle though nation's credit card debt drops

Consumers here in Massachusetts remain cautious about the sluggish economy. This is evidenced, say experts, by a continued decline in credit card use. American Credit card debt dropped in July for the second month in a row, showing consumers are hesitant to charge goods and services to their credit cards. Economists are concerned this may lead to weak consumer spending, but many banks are trying to offer new incentives to get people to use their cards more often.