Most Oklahoma residents have never heard of Fair Isaac Corp., and that is something that needs to change; since it is an organization that can have a huge impact on the life of anyone who needs to borrow money.
It is a story that many Americans are familiar with by now: Since the official end of the recent recession in 2009, families have continued to struggle under debt. And even though the economy is improving, with lowering unemployment rates and reduced amounts of credit card debt, a large number of Americans are still struggling to pay all of their bills on time.
If you have fallen behind on your payments or defaulted on a credit account, the risk of being sued cannot be ignored. Although filing a lawsuit is usually a last resort for creditors, who would much rather work with you on repayment of the debt than to go to court, if you do not take action to settle with your creditor then it may eventually resort to legal action. This post provides a brief overview of what that action may look like.
The reasons for an individual or a business to contemplate measures for debt relief are many, and vary due to individual circumstances. Some find that filing a petition for bankruptcy is the best way to address financial issues. One reason that can affect both individuals and businesses is a catastrophic event that makes bankruptcy not so much an option as an apparent necessity.
Two widely-publicized unhealthy conditions of Americans – financial debt and obesity – may have more in common that most people would realize. Although both may be influenced by outside factors, such as unemployment and a struggling economy for debt, and health conditions such as diabetes for obesity, both can also stem from a pattern of excess.
The economic recession of 2008 hit consumers hard in Oklahoma and across the nation. In high numbers, people were losing their jobs and homes and finding it difficult or impossible to pay outstanding debt.
There is currently over $1 trillion in outstanding federal student loans. The average tuition to gain a bachelor’s degree has tripled over the past 30 years, and the current average graduate now leaves school with almost $30,000 in debt.
One American city’s continuing quest for debt relief has captured the nation’s attention over the recent past. The once booming industrial city is going through the largest public bankruptcy in American history.
Today, most people have busy schedules that involve trying to balance work and home. It is often a struggle amidst the chaos to ensure organization in all areas of your life, most significantly, finances. Although troubling to consider the thought, sometimes mishandled bank accounts and spending can lead to piling debt and creditor harassment. Eventually your dwindling options may lead to being forced to file for bankruptcy.
Many Oklahoma residents have faced financial struggles whether the hardships stemmed from credit card debt, unemployment, student debt or medical bills. Even players in the NBA and NFL, earning six figures or more, struggle with managing finances.