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Are you addicted to debt? »

American Personal Savings Rates

It’s no secret that we love to spend. Our personal savings rates have dropped into the negative range meaning that we are spending money faster than we can save it.
At the same time, the amount of consumer debt has increased dramatically over the last 50 years.
Just look closely at [...]

Beware the Personal Guaranty »

When operating a small business, it is easy to forget about the formalities of maintaining the facade of a business entity. Whether your business is a corporation or a limited liability company, the structure of the business is to protect the owners of the business against the debts of the business. Think of [...]

How Long Does A Collector Have to Collect a Debt In Connecticut? »

Going back to Biblical times, debts have always had a limited lifespan. By government regulation, the limits are known as Statutes of Limitation. Generally, these laws govern the time that an action can be brought to collect a debt in the state court system.
In Connecticut, enforcement of an oral contract is three years [...]

Are You On The Trade-in Treadmill? »

Following the huge increase in foreclosures across the country, repossessions of vehicles are up 10% nationally over the year before. Most people finance a car based on the monthly payment and to accommodate those borrowers, lenders are now offering car loans as long as SEVEN years!
While the monthly payment might be low, overall [...]