Household Debt

The Federal Reserve Bank of New York's Survey of Consumer Expectations found about 48% of Americans said their finances were worse in May than a year earlier — the h...

As household debt and delinquencies rise, more creditors are obtaining court judgments that enable wage garnishments. When a valid garnishment order is served, an em...

Credit card interest rates are currently averaging near 22%, leaving many cardholders carrying high-cost revolving balances. Markets and most economists do not expec...

CBS News (June 12, 2026) explains how different retirement assets are treated if a creditor sues and obtains a judgment. The article notes that taxable brokerage acc...

The article explains that a wage garnishment tied to a specific employer generally stops when an employee leaves that job because the former employer can no longer w...

This opinion piece by Ted Jenkin argues that even if inflation eases, many Americans would continue to struggle financially because of personal spending choices and ...

A court judgment against a borrower does not automatically deliver money to a creditor but gives the creditor legal authority to use court-approved collection tools....

Rising prices and high interest rates have pushed many Americans toward higher unpaid balances and increased collection activity. Generally, a debt collector cannot ...

The article explains that after missed payments and creditor collection activity, a creditor who sues and obtains a court judgment may freeze (levy) a debtor's check...

Creditors who believe a borrower has defaulted may file a civil lawsuit, starting with a summons and complaint; if the defendant does not timely respond, a default j...

Bank account freezes restrict some or all activity on an account (withdrawals, debit card use, transfers, bill payments) and can result from several causes. While fr...

A bank levy is a legal action creditors can use after obtaining a court judgment to freeze and seize funds from a debtor's bank account. When a levy is served, a ban...