Alabama residents facing a high amount of credit card debt might want to consider signing on for a new card.
But why, when the debt on one card already is too much to bear? It's because credit-card issuers have brought back the card that offers 0 percent interest on a short-term introductory basis, along with no transfer fees. That means a consumer could transfer the balance from a high-interest card to a new card, intending to pay it off before the no-interest introductory rate expires.
Sometimes, financial stability can shift in a minute due to medical emergencies or the actions of others.
For some Alabama residents, that could prove true in light of a recent bankruptcy filing by a Birmingham-based produce company. Now, there are fears that some of the 100 affected employees in the area could wind up in dire financial straits and need to declare personal bankruptcy. Those workers, who had not been paid for three weeks before their company shut its doors and then filed for bankruptcy, are left to wonder if they ever will see their back pay or disbursements from their retirement accounts.
Continue reading Alabama company files bankruptcy, workers want to be paid
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The chief justice of the U.S. Supreme Court has appealed to Congress more than once to raise the pay for federal judges. He contends the salaries for federal judges in Alabama and across the United States have not grown at the same rate as other federal workers and are barely competitive with salaries of first-year associates at private law firms.
His case, perhaps, now has been bolstered with the personal bankruptcy filing of one federal court judge in another state. The judge sought bankruptcy protection, saying he holds assets of about $830,000 but has debts of nearly $900,000.
A man from a southeastern state is headed to prison for 27 months after his conviction on perjury charges stemming from a personal bankruptcy case, with his wife's sentencing soon to follow. The case is further proof that people filing for bankruptcy must be honest about the assets they have to report to the government. Even if you don't think something needs to be reported; chances are it needs to be.
The man and his wife filed for personal bankruptcy in June 2005. According to prosecutors, the couple failed to disclose pertinent financial information, which led to the perjury charges. The couple did not include $100,000 from the sale of a building in their bankruptcy petition.
A U.S. District Court judge in Alabama has ruled that a bankruptcy court made an error when it ruled that a disputed debt pertained to business and should not be part of a personal bankruptcy case.
In June 2011, the owner of a gas station filed a claim of more than $16,000 as part of another man's Chapter 13 bankruptcy case. The gas station owner and the other man, who owned a trucking company, had reached an agreement a few years earlier whereby the station owner would extend credit for fuel. The man who owned the trucking company bought fuel at the station and signed an invoice.
A former professional football player with extensive ties to the southeast has filed for Chapter 7 bankruptcy.
The man, now 39, played professionally in the National Football League for 13 years before retiring after the 2007 season. He earned tens of millions of dollars in the NFL. But just because he's earned millions, it does not mean that he can't fall on hard financial times. Bankruptcy is designed to help people whose debts have surpassed their earning power.
Credit card debts and mortgages have taken a back seat to car payments, as struggling consumers throughout Alabama and the rest of the United States have made their auto loans a top priority, according to a new study.
In the past, when homes proved the largest and most valuable asset, people paid the mortgage first. Now, according to a credit reporting company, the first payment goes to a car loan.
Financial experts expect an uptick in personal bankruptcy filings during the coming weeks, as tax refunds arrive in mailboxes or bank accounts in Alabama and all across the United States.
Because filing the paperwork for bankruptcy costs an average of $1,477 in fees, Americans who must file for bankruptcy often wait until tax-refund season. That's according to research by economists at the University of Chicago, Washington University and Columbia University, who just released the new findings.
Medical debt is a financial burden to one-third of all American families, with 20 percent of those families saying they have a tough time paying those bills each month, according to a new study.
The Centers for Disease Control and Prevention's National Health Interview Survey also said that 10 percent of those receiving bills stated they would not be able to pay the bills. Additionally, 26.7 percent of those surveyed who said they had health insurance needed to pay the bills over time instead of all at once.
Continue reading Ten percent of Americans say they can't pay medical bills
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With $835 in medical debt owed to an Alabama eye doctor, a husband and wife with thousands more in medical debt had to file for bankruptcy.
But what's interesting about this story is that the 56-year-old wife is among the plaintiffs in a case headed to the U.S. Supreme Court that aims to tell President Obama that Americans, or small businesses like hers, should not be mandated to buy medical insurance.
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