Richard J. Shurtz, Attorney at Law

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July 2014 Archives

More than one-third of families may struggle to find debt relief

The frequently dubbed "Great Recession" was declared over by mid-2009. However, while some segments of the nation are starting to show signs of rebounding, over one-third of American households are struggling to find debt relief. There may be families in Washington that are likewise looking for solutions for credit collection stress.

There are some ways to avoid foreclosure of a home

The housing crisis has led to some changes in the way banking and lending institutions handle delinquent mortgages. Most likely, the decision to walk away from a home and allow it to go into foreclosure is not made without careful reflection. However, Washington families that have been contemplating this step may be encouraged by the recent changes.

Credit card debt is often not a result of careless habits

A recent study was undertaken to discover what may lead people to carry over balances on their bank cards from month-to-month. The two types of demographics used for the study, those with credit card debt and those without, were composed of middle and lower-income card holders. The researchers were surprised by some information regarding revolving debt. Washington residents may also be interested in what the study revealed.

Times to avoid using cards and incurring more credit card debt

The ongoing problems in the economy may be continuing to strain the financial resources of some Washington families. The temptation to reach for credit cards may sometimes seem like the best choice when making financial decisions. However, in order to avoid incurring more credit card debt, there are certain times when credit cards may best be avoided.

New ruling states some accounts not safe in consumer bankruptcy

A couple has spent years working and putting aside money in their IRA accounts for themselves and also for their children. Now, one of the spouses suffers an accident and dies. The surviving spouse would most likely take a measure of comfort knowing that the money that has been put aside will enable him or her to follow through with their retirement plans. However, in the event of a financial setback, the money in some of those accounts may no longer be protected in a consumer bankruptcy should the need arise. Washington residents may benefit from learning about a new Supreme Court decision.