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Financial infidelity can tear relationships apart. I’m 38 years old and work 60 hours a week — I just discovered that my husband, who’s on disability, loaned out over $11,000 to his parents.
Chapter 7: In a Chapter 7 bankruptcy filing, some of your assets are sold to pay back debt, meaning you could lose your home and personal property. A few months after filing, your remaining debt ...
Even severe issues, such as bankruptcies, can be cleared within seven to 10 years. That means Jean’s son has had more than enough time to improve his financial situation, but has inexplicably ...
Where previous generations were able to amass years of solid experience and income in the old economy, many of us will spend our entire working lives intermittently employed in the new one. We’ll get less training and fewer opportunities to negotiate benefits through unions (which used to cover 1 in 3 workers and are now down to around 1 in 10).
On 30 September 2014, Wonga announced that its profits for the previous year had fallen by 53% to £39.7 million. The company blamed the cut in profits to "remediation costs" – compensation paid to customers – which in total cost the company £18.8m, and predicted its profitability would be reduced through new controls set out by the Financial Conduct Authority (FCA) from June of that year.
The U.S. unemployment rate peaked at 11.0% in October 2009, the highest rate since 1983 and roughly twice the pre-crisis rate. The average hours per work week declined to 33, the lowest level since the government began collecting the data in 1964. [40] [41] The economic crisis started in the U.S. but spread to the rest of the world. [35]
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