We are proud to announce that Veronica Brown-Moseley has been elected Co-Chair of IWIRC’s Virginia Network. International Women's Insolvency & Restructuring Confederation. IWIRC is committed to the connection, promotion and success of women in the insolvency and restructuring professions worldwide.
Financial wellness programs boost productivity. Workers under financial strain are more likely to be distracted and absent from work.
The Consumer Financial Protection Bureau (CFPB) is looking into payday lending and in the next 12 to 18 months may issue guidance or propose regulations for the $46 billion business. At a CFPB hearing in Richmond last week speakers for and against payday loans were heard. Read more ...http://www.richmond.com/business/sponsored-content/article_c2fa4046-d884-11e4-a4fd-5b33b58a0231.html
Credit reporting agencies have agreed to be more conscientious in fixing credit report errors and to wait longer before including unpaid medical bills in reports and credit scores. http://www.richmond.com/business/sponsored-content/article_2042b67a-cd72-11e4-9301-a7cdb7bcc967.html
In America today, 28% of us have more in credit card debt than we have in savings. That’s up 5% in the past two years. Another 17% of us don’t have any credit card debt, but we don’t have any emergency savings either.
It’s that time of the year again when the airwaves are humming with offers of lump sum payments on structured settlements, pennies-on-the-dollar tax payments, debt consolidation and instant cash for car titles. No credit check! Get cash with an easy payday loan.
The recent announcement from Family Dollar highlights the growing income gap between consumers who are regaining ground after the depression and those who are still stuck.
Watching all the glitz and glamor of Academy Awards recently I was struck by the thought that celebrities may be much like many Virginians. They, too, have run into overwhelming debt and filed for personal bankruptcy.
I was watching TV a few days ago when I saw an ad that raised my blood pressure to the boiling point. It showed “Mr. and Mrs. Santa” discussing how to pay for Christmas. Mrs. Santa, in a moment of weakness, recommends taking out a title loan on their reindeer sleigh. They could get up to $5,000, she notes, without a credit check.
Twenty-three years ago my wife, Gayle, and I started Boleman Law Firm in a tiny Richmond office. We never dreamed of a future where Boleman Law would be the largest bankruptcy law firm in Virginia. Nor that we’d be privileged to help more than 106,000 Virginians regain their financial health.
“In the affordable markets the millennials are already buying in huge numbers.” So says Jonathan Smoke, chief economist at realtor.com speaking at the National Association of Realtors last week. Even with student loan debt and a below par job market, he believes that these 18 to 35-year-olds are the home buyers of the future.
Apple and at least one other vendor are looking to get rid of credit cards. Wave your iPhone over the reader and funds will be instantly deducted from your account to pay for your purchase. But let’s be sensible, there will also be fees just like credit cards.
For many of us, January is the time for our annual renewal. We acknowledge that 2014 is over, along with the problems and joys, and that 2015 is here, bright and shiny. It’s time to get healthy and get a fresh start.
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