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February 2018 Archives

Medical debts highest among Generation X members

Studies show that an alarming number of families in Louisiana and around the country are struggling to cope with unmanageable health care bills. Soaring medical debts are a leading cause of personal bankruptcies in the United States. One in five Americans with health care coverage has trouble meeting their doctor and hospital expenses, and members of Generation X have the highest medical debt of all, according to the financial information and services company Comet.

Bankrate survey paints grim financial picture

Many households in Louisiana and around the country are struggling to cope with unmanageable levels of debt, and it is often their credit card balances that they find most difficult to pay down. A recent study from the consumer financial services company Bankrate found that barely half of Americans have more money in their savings accounts than they owe to credit card companies. It also revealed that 39 percent of the adult population has no money at all put aside for emergencies.

Comparing Chapter 7 and Chapter 13 bankruptcy

When someone files for bankruptcy, they will have their choice of a number of different chapters. The two most common forms of personal bankruptcy, though, are Chapter 7 and Chapter 13 bankruptcy. These two types of bankruptcy dominate the landscape, and they compose most personal bankruptcy filings in the United States.