Bankruptcy News

Interest Rates on Mortgages, Cars, and Credit Cards Will Keep Getting More Expensive in 2023 Borrowing money to buy a house or a car won’t get any cheaper this year, the nation’s central bank just confirmed. On Wednesday, the Federal…

Credit card balances reached a record-setting $866 billion in the third quarter of last year, which represents a year-over-year increase of 19%. Personal loans and credit card debt reached record levels in 2022 due to financial pressures brought on by…

This bestseller by Marketdata examines the $15 billion business of debt collection agencies. Complaints by consumers about harassment by collectors still exists and tops the list of complaints to the FTC. Federal and state regulations have reduced recovery rates, resulting…

The number of bankruptcy filings by private equity-backed companies in the U.S. edged higher in 2022, with the consumer sector, battered by supply chain disruptions and surging inflation, leading the pack. Forty-nine private equity portfolio companies have filed for bankruptcy…

It’s getting more expensive to pay down credit card debt. The average interest rate on new credit card offers is now nearly 23%, according to LendingTree’s latest analysis. That’s up from about 22.4% in November. “Credit card interest rates are as…

More than 16,000 businesses which took out a type of government-backed Covid loan have gone bust without paying the money back, the BBC has found. Hundreds of directors, who got loans they were not entitled to, have also been disqualified.…

WASHINGTON (Reuters) – The four largest U.S. consumer banks posted blockbuster second-quarter results this week, after pandemic loan losses failed to materialize and the U.S. economy began roaring back to life. Wells Fargo & Co, Bank of America Corp, Citigroup Inc and…

The image is taken from The Economic Times. The chief executives of JPMorgan, Bank of America, Citigroup, Wells Fargo and other major U.S. banks were grilled by both Democratic and Republican lawmakers on Wednesday on the economy, consumer protections, mortgages,…

Three major US banks are raising their prime lending rates to the highest levels since the global financial crisis of 2008, following a hefty interest rate hike by the US Federal Reserve. JPMorgan Chase & Co, Citigroup Inc and Wells Fargo &…

Lorie Konish, September 23, 2022 Investor Toolkit Both expert and everyday investors are worried a recession is coming. The good news is there are steps you can take now to limit the negative impact a downturn may have on your…