The Rising Trend of Bankruptcy Among Seniors Bankruptcy, traditionally viewed as a last resort for those overwhelmed with debt, is showing an alarming rise among the elderly population in America. A study from the Consumer Bankruptcy Project revealed that the rate of Americans aged 65 and older filing for bankruptcy has tripled since 1991. This […]
Joann Fabrics Files Bankruptcy – Here’s the Story Joann, the venerable institution in the fabric and craft retail sector, aged 81 years, finds itself navigating rough financial waters, compelling it to seek Chapter 11 bankruptcy protection. Amid an era where discretionary spending is on a decline, the Ohio-rooted company has unveiled plans to fortify its […]
Federal Reserve Raises Interest Rates: Implications for Individuals, Homeowners, and Borrowers Interest Rates Increasing The recent decision by the Federal Reserve to raise interest rates for the 10th time in just over a year has significant implications for individuals, homeowners, and borrowers. This 0.25 percentage point increase brings the benchmark borrowing rate to a target […]
Bankruptcy Statistics Show a Surprising Trend in Early 2022 With the global pandemic, shutdowns, lockdowns, layoffs, and reduced working hours, many expected a drastic increase in the number of bankruptcy filings in the latter half of 2020 and throughout 2021. Many people were wrong, it turned out — bankruptcy filings actually decreased significantly in both years. […]
As Holiday Spending Rises, 60% of Americans Live Paycheque to Paycheque Recent economic trends have highlighted a concerning reality for many American households. Despite a slight easing of inflation, as noted by the Federal Reserve, the financial pressures on families remain acute. As we approach the holiday season, which is notorious for being a financial […]