5 Reasons Why NFL Players Declare Bankruptcy
NFL players declare bankruptcy with surprising regularity. Warren Sapp, the seven-time Pro-Bowler and Hall of Fame defensive tackle, earned a whopping $82 million during his 13-year career that ended in 2007. By the spring of 2012, however, Sapp had filed for Chapter 7 bankruptcy. At that time, Sapp was still pulling in $116,000 per month […]
The Effects of the Great Recession on American Wealth
I just finished reading the 12th Edition of State of Working America, which provides some excellent insights into the effects of the Great Recession on American wealth. The book is the work of the Economic Policy Institute, a nonpartisan, nonprofit Washington, D.C. think tank, created in 1986 to broaden the discussion about economic policy to […]
Structural Changes in the Washington Region Economy
The Roadmap for the Washington Region’s Future Economy is a fascinating new report by Stephen Fuller, head of the Center for Regional Analysis at George Mason University. Below are some takeaways from the report, which highlights several structural changes in the Washington region economy. One of the key points of the report is that the […]
What is the REAL Unemployment Rate?
An interesting article over at CNBC discusses what the unemployment rate really means. Economists often look past the “main” unemployment number (also known as the “U-3 rate”) to other indicators, like the U-6 rate, which many prefer because it captures those employees who work part time but would like to be working full time. What […]
The Legacy of the Great Recession
There are some great graphs in a Center on Budget and Policy Priorities article Chart Book: The Legacy of the Great Recession. Between December 2007 and June 2009, the United States went through its longest recession since the Great Depression . The charts in the article document the legacy of the Great Recession. The charts […]
Get Your Finances Back on Track with a Chapter 13 Bankruptcy
If you have too much income or too many assets to file for a Chapter 7 bankruptcy, then consider Chapter 13 instead. Rather than struggling to keep your head above water, contact Lee Legal to get your finances back on track with a Chapter 13 bankruptcy. Get Your Finances Back on Track with a Chapter […]
Your Best Debt Defense May Be Bankruptcy
Unresolved debts can take an enormous toll on your overall quality of life. If you feel anxious every time your telephone rings or get a knot in your stomach when retrieving your mail, you may gain peace of mind by seeking bankruptcy protection. In fact, your best debt defense may be bankruptcy. The two main […]
Bankruptcy is the Cure That Ails You
Bankruptcy is not like drinking a cold milkshake. It’s not like lying on the beach, soaking up the sun. Or having a drink at the club with your friends. Bankruptcy isn’t for everyone or for every situation. And bankruptcy isn’t fun — it’s a very serious decision. Bankruptcy is the cure that ails you. Bankruptcy […]
Causes of Debt
There are many different causes of debt. The TV quiz show Jeopardy! recently addressed five types. Student loans Seven in ten students graduate with student loan debt, which is now bigger than both auto loans and credit cards. And student loan debt is the most collectible cause of debt there is. Student loans are nondischargeable […]