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Huge numbers of Americans have debts in collections

Posted on August 21st, 2014 No Comments

Huge numbers of Americans have debts in collections

According to a study released on July 29, 35 percent of Americans have a debt in collections, a Detroit Free Press article stated. In the analysis conducted by Urban Institute, it was found that many Americans had trouble paying debts on time. People plagued by debts were concentrated primarily in the southern region of U.S. and the majority of debts were related to mortgages. […]

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Steve Donner filed for Chapter 7 Bankruptcy

Posted on July 17th, 2014 No Comments

Steve Donner filed for Chapter 7 Bankruptcy

American sports tycoon Steve Donner and his spouse have filed for Chapter 7 bankruptcy at a federal court in Florida, the Democrat & Chronicle reported on July 3. In the bankruptcy documents filed last May, the former owner of Amerks and Knighthawks listed a debt of $9.5 million, while his assets were estimated at $17,000. Much of […]

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Americans’ credit card defaults increase

Posted on June 18th, 2014 No Comments

Americans’ credit card defaults increase

A study conducted by a credit card firm recently reported that credit card use has increased among Americans but less debt is being paid off, an article on the Voice of Russia US stated on June 11. According to CardHub.com’s forecast, by the end of 2014, at least $298.5 billion will have been defaulted by credit card holders in […]

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Actor Lorenzo Lamas sought bankruptcy protection

Posted on May 5th, 2014 No Comments

Actor Lorenzo Lamas sought bankruptcy protection

American actor Lorenzo Lamas, 56, recently sought bankruptcy protection after accumulating overwhelming debt, an article by the Mail Online stated on April 29. In the Chapter 7 bankruptcy case filed by the 80’s heartthrob, he had a debt of more than $322,000, the majority of which was owed in state and government taxes. Lamas, who recently finished Celebrity […]

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