If your credit card companies demanded full repayment of your current debt load tomorrow, would you have enough money in your savings to cover the balance? According to a new Bankrate.com survey, the number of Americans who could eliminate their credit card debt tomorrow using only funds from their savings accounts currently stands at 51 percent. This means that nearly half of all Americans have more credit card debt alone than savings.
You have likely seen ads for car title loan companies on television. Or perhaps you have heard them playing at numerous commercial breaks when you listen to the radio. Or perhaps their advertisements invade your attempts to search for anything on the Internet. Car title loan companies advertise widely. But these companies are most eager to find individuals whose challenging financial situation makes their pitch particularly appealing.
When the Affordable Care Act was passed, one of its major goals to protect people from the ruinous medical debt that many people have been forced to incur after a single, catastrophic accident or if they suffer from a chronic illness that prevented them from getting insurance. Relief from medical debt has become the No. 1 reason Americans seek bankruptcy protection, and the ACA was meant to help.