Thank You, Veterans
From all of us at BEBdata, Thank You to all Veterans. We appreciate your service.
From all of us at BEBdata, Thank You to all Veterans. We appreciate your service.
Around 530,000 bankruptcy cases are filed every year due to inability to pay medical expenses. 54% of Americans with medical debt, have no other debt.
Wishing you a very safe and happy Halloween from all of us at BEBdata!
On January 7th, Senator Elizabeth Warren unveiled a plan to reform the consumer bankruptcy system. The plan provides for one chapter that everyone files, combined with a menu of options to respond to each individual’s particular needs. It also undoes some of the amendments that came with the 2005 bankruptcy law, including the means test. […]
During the start of COVID-19 stay-at-home orders, banks and credit unions began to tighten lending standards, while carmakers increased incentives for prime borrowers. As traditional institutions such as banks and credit unions, became more selective about who they would loan money to, individuals with lower credit scores used finance companies or buy-here-pay-here car lots for […]
On average, used car prices rose year over year by 2.4% from 2016 through 2019. Then the came the Corona Virus. U.S. factories shut down less than a week after COVID-19 was declared a pandemic on March 11, and slowly began reopening in June. As supplies of new cars fell, buyers were pushed into the […]
People often associate bankruptcy with unemployment. Bankruptcy is tied to debt levels, not unemployment rates. Bankruptcy does not add money to a bank account or find an individual a job. Bankruptcy is all about debt and unless people have debt, they won’t file for bankruptcy. Recently, the Federal Reserve Bank of New York reported that, […]
So far, a surge of personal bankruptcies has been avoided during 2020 and to date, bankruptcy filings are trailing last year’s numbers. Even though the federal stimulus payments and other government programs most likely have a lot to do with 2020’s decline in consumer bankruptcies, it could also be attributed to people borrowing less. However, […]
U.S. consumer debt grew in February by the most in seven months with a rise in non-revolving loans, prior to the coronavirus pandemic. Federal Reserve figures showed a $22.3 billion increase in total credit from the prior month. Non-revolving debt, which includes auto and school loans, rose by $18.1 billion — the most since 2015 […]
720 System Strategies surveyed more than 80,000 students in their credit-score improvement program, many of whom lost thousands of income dollars due to the Corona-virus. 34.95 percent plan to spend their one-time stimulus check and twelve-week unemployment benefits on paying down debt. In a recent Yahoo! Finance blog, CEO and Founder of 720 System Strategies, […]