By PYMNTS Americans see both good and bad economic times ahead, with consumers predicting the highest jump in household spending in more than four years, even as the largest share since 2013 think they’ll be worse off this time next year, New York Federal Reserve figures show. “Despite flat income
By Elena Botella, Forbes Bankruptcy offers an exit route for families and businesses trapped by debt. In 2019, Forever 21, Barneys New York and Payless ShoeSource declared bankruptcy. Donald Trump’s businesses have declared bankruptcy on six occasions. The Bankruptcy Abuse and Protection Act of 2005 made bankruptcy much more expensive
By Christopher Maloney, Bloomberg A growing percentage of U.S. homeowners are looking to delay making mortgage payments, the latest sign that the economic recovery is hitting a snag. In the first week of December, the proportion of mortgage borrowers that started seeking forbearance relief rose to its highest level since
By Greg Iacurci, CNBC Congress is scrambling to finish work on a bipartisan Covid relief bill that would offer additional unemployment benefits and other assistance before a financial cliff looming at month’s end. Yet out-of-work Americans may wait weeks to receive that aid, even if lawmakers pass legislation soon. The
By Maurie Backman, The Mottley Fool Given the number of Americans who have struggled financially during the coronavirus pandemic, you’d think foreclosure numbers would be booming. But actually, according to new research on household debt by The Ascent, foreclosure rates are down this year. While there were around 50,000 foreclosures
By Zack Friedman, Forbes Joe Biden can impact your student loans in many ways even if he doesn’t cancel student loans. Here’s what you need to know. Student Loans President-elect Joe Biden has called on Congress to cancel student loans immediately. Biden wants each borrower to receive $10,000 in student loan cancellation
Sonic Drive-In Restaurant exterior. Sonic Corp. is an American drive-in fast-food restaurant chain. – Costa Mesa, CA – October 17, 2015 By Jonathan O’Connell, Andrew Van Dam, Aaron Gregg and Alyssa Fowers, Washington Post Ongoing revelations about how big businesses and chains were able to secure hundreds of millions of
Democratic 2020 U.S. presidential candidate Elizabeth Warren Campaigns in New Hampshire – Exeter, NH – March 15, 2019 (Shutterstock) By Alexander Gladstone, WSJ Congressional Democrats on Wednesday introduced legislation overhauling the U.S. bankruptcy system to make it friendlier to consumers while opening the door to student-loan cancellation, among other proposals.
President-elect Donald Trump & Vice President-elect Mike Pence met with potential cabinet members at Trump International – Bedminster, New Jersey – November 19, 2016 (Shutterstock) By Mike DeBonis and Jeff Stein, The Washington Post The Trump administration on Tuesday proposed an economic relief package that would offer far skimpier federal
By Carmen Reinicke, CNBC Millions of Americans got an early Christmas present this year – on Friday, the U.S. Department of Education extended the coronavirus pandemic-induced pause on student loan payments through January 2021. Accruing interest will also be on hold and the department will not resume collections on defaulted
