Why Staying Current on Car and Mortgage Payments Matters in Chapter 7
In Chapter 7 bankruptcy, being current on your car and mortgage payments is essential if you want to keep those assets – Chapter 7 does not let you catch up on arrears, so falling behind usually means losing the property. How Chapter 7 Works for Cars and Homes When you file Chapter 7, the automatic […]
Do Increases in Interest Rates by the Federal Reserve Affect Credit Card Debt?
Immediate Impact on Credit Cards Most credit cards have variable interest rates tied to the prime rate, which closely follows the Fed’s benchmark federal funds rate. When the Fed raises rates, the prime rate usually increases by a similar amount, and credit card APRs adjust accordingly, often within a month or two after the Fed’s […]