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July 2014 Archives

Massachusetts teens fare poorly in financial skills test

A well-rounded education should provide students with tools that can help them for their financial future. Making decisions about loans, credit cards and other financial endeavors are important decisions that can impact many people's lives. Unfortunately, many education systems are failing. People have gotten into large amounts of debt through high interest rates that are extremely difficult to pay back. In Massachusetts, bankruptcy can be an option for those who are overwhelmed by debt. It can help stop repossession of a house and other property.

Local Woburn pub files for Chapter 7 bankruptcy

Sometimes a business will have to be restructured in order to stay alive. In other cases, debts may be too overwhelming. When a business closes, it may face a significant amount of creditors. For those struggling with debt in Massachusetts, Chapter 7 bankruptcy can help eliminate unsecured debt. Bankruptcy can be an opportunity to fend off creditors when a business ends.

Lenders target riskier borrowers in Massachusetts

Across the United States and Massachusetts, some lenders are discovering that their margins being tightened. This realization has turned some lenders to target riskier clientele when making loans or credit extensions. Getting a new line of credit may be a useful financial tool, it can also lead to significant debt for the borrower and debt can easily spiral out of control. Handling finances can be extremely difficult if credit card bills are unmanageable. High bills might lead to significant interest charges and the inability to get out of debt.

Lackluster housing recovery in central Mass.

A lackluster economy can be a source of struggle for Massachusetts's residents. It can be financially impossible to cover the expenses of daily living. One of the worst things that can happen to individuals and families is a home foreclosure. An important tool for those living in Massachusetts to prevent foreclosure is to consider filing for bankruptcy. Being overwhelmed by debt can make life difficult. Often collection calls will come at work and at home. With poor economic prospects in some areas, finding financial tools can help with a fresh start.