College students, including those in the greater Baltimore area, are greatly affected by the harsh conditions of today's economic climate. Tuition costs are higher than ever, resulting in many turning to student loans. A student loan is far from a problem-free means of covering the costs of college, though, and students quickly realize that interest rates and steep late payment penalties can be fast ways to fall into mires of debt and financial difficulty.
Sometimes, a teen star achieves great popularity only to find his success fizzles out rather quicker than anticipated. At this point, the once popular celebrity may be tangled in a financial mess, unable to afford the lifestyle they were able to live when they had many successes. Debt begins piling up and it starts to seem as though there is no escape from endless debt cycles. Thankfully, there are options for anyone -- not just celebrities -- who find themselves in these unfortunate financial situations.
Maryland residents may remember Aaron Carter for being the boyfriend of Hilary Duff, the younger brother of the Backstreet Boys' Nick Carter, and a successful pop artist in his own right. He was responsible for numerous hit singles and enjoyed many successes in his teens.
For many Maryland residents, home is the backbone of the familial structure. Homes are not only safe havens, providing shelter and warmth for the family, but are also sentimentally so much more -- homes symbolize the togetherness of American families and the unity and strength that can only be found in a familial unit. When this stability and togetherness is in danger because of potential foreclosure, it is understandable why Maryland families would want to do everything in their power to prevent being temporarily displaced -- or worse, homeless.
According to a recent report, Maryland had one of the highest rates of new foreclosure cases this summer. The state had the fifth highest rate in the country. Some experts claim this is the result of Maryland requiring court involvement in cases where foreclosure auction is sought, which has significantly slowed the state's recovery from the mortgage crisis. Not everything is so stagnant, though, as there has been a drop in borrowers behind on their payments.
As temperatures begin to drop and Thanksgiving rapidly approaches, people in Baltimore may begin to think about how they might plan their holiday shopping. For many people, buying gifts involves making purchases on credit cards, and with gifts often coming out of non-budgeted funds, some people find themselves facing extra and excessive credit card debt in the coming year.
Individuals can avoid excessive holiday-related credit card debt by making a commitment to only spend as much per month as they know they can reasonably pay off on time. By paying off one's credit card bill every month, people can avoid the heavy interest and other expenses that credit card companies tack on and that make credit card bills rapidly grow.
Maryland's highest court agreed earlier this year to hear the firm's appeals of two cases brought by debt buyers against Maryland consumers, Rainford G. Bartlett v. Portfolio Recovery Associates, LLC, Case No. 64, September Term, 2013 and James Townsend v. Midland Funding, Case No. 76. September Term, 2013. The firm's arguments in these appeals have gained wide support, and "Friend of the Court" briefs have been filed on behalf of the following:
It is one thing for a Baltimore resident to work hand-in-hand with his creditors to pay down debts and rebuild credit. It is quite another thing for a company to make threatening and harassing claims against an individual that pins that person into an uncomfortable and sometimes terrifying place.
The Federal Trade Commission has recently addressed the issue of fictitious organizations contacting random individuals and making threatening claims that those individuals have outstanding debts that the companies are pursuing in court. The goal of these predatory companies is to scare credit-conscious individuals into hurriedly sending off cash and checks to pay off debts and loans they do not actually owe.
When it comes to medical emergencies, the financial challenges that accompany the issue can sometimes be overwhelming. Medical debt can have a significant impact not only on a person's credit, but also on the ability to move on to secure financial footing after the medical issue has been addressed.
We hear this question often from Maryland consumers who are surprised when they are sued for the balance owed on a car loan after the finance company has repossessed and sold their vehicle. The answer depends on whether the finance company has provided the consumer with the notices required by the statute that governs the loan.
Nearly all Maryland residents have a credit card these days. The average credit card debt for a U.S. household is over $15,000. The average credit card per individual is nearly $5,000. In today's economy, it is very easy to fall into the trap of credit card debt. The question now becomes, what is the best way to get oneself out of this debt and stay out long-term?
Maryland's highest court has agreed to hear the appeals of three significant consumer protection lawsuits brought by The Law Offices of E. David Hoskins, LLC.