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Financial lessons from Tori Spelling

This past week, actress and author Tori Spelling revealed that she has major money issues. The former 90210 star laments her extravagant lifestyle that now has brought her to the brink of bankruptcy. For those struggling to maintain their status in the middle class, this news may be met with little to no sympathy. However,… Read More »

Another American city contemplates bankruptcy

Another American city is set to go the way of Detroit if a financial solution cannot be found. Desert Hot Springs, California may enter a second round of bankruptcy proceedings after a new finance director discovered a $3 million shortfall in the city’s $13.5 million budget. City salaries and pensions are being cited as one… Read More »

Using bankruptcy to manage student loan debt

College graduates are projected to make more money over the course of their life than individuals who do not obtain a college degree. For some, the debt that is acquired while obtaining their degree leads to a lifetime of financial distress. A difficult financial situation can become further complicated when major medical issues are thrown… Read More »

Psychology of consumption could lead to bankruptcy

The hustle and bustle of the holiday season is here. From Thanksgiving to New Year’s there seems to be a non-stop push to engage in retail therapy. For some it is all part of the fun of the season. However, for others it is the beginning of a financial quagmire that ends in a mountain… Read More »

A computer may be your next financial planner

Can computers do a better job of helping you manage your money than a human advisor? Some new internet start-ups are betting that they can. If these new financial gurus are correct, this revolutionary idea may become the wave of the future. These companies have computer algorithms that are able to manage financial portfolios automatically…. Read More »

Bankruptcy news: several banks set to end payday loans

When facing an unexpected financial crisis, individuals seek financial relief in whatever way they can. For some, this leads them to take high interest payday loans. After months of pressure from consumer advocates, several large banks are taking meaningful steps to get out of the payday loan business. Payday loans are also known as deposit… Read More »

Large bankruptcy firm files for bankruptcy

Bankruptcy is a viable way to manage debt and get a fresh financial start in life. This option is available to both individuals and businesses. Most recently one of Michigan’s largest bankruptcy law firms now finds itself in bankruptcy as a result of a business dispute between former partners. Frego and Associates filed for Chapter… Read More »