It’s recently been reported that multigenerational home buying is on the rise. According to the New York Times, 64 million Americans are living in homes where there are adults of at least two generations. This is double the number of people doing it in 1950.
Credit cards subject individuals to interest and fees. These costs can sometimes add up to quite a bit. According to recent data, in the one-year period ending March 31 of this year, around $104 billion in interest and fees were paid by U.S. credit card users.
On the surface it seems like a good idea. Gubernatorial candidate Lupe Valdez bought and renovated several properties that she subsequently rented to people who were aspire to open businesses or somehow contribute to the community. She had been renting units at below-market levels for decades, and often bought the most rundown property on the block and fix it up for that purpose.
The Wall Street Journal recently reported that those who owe more than $51,000 to the IRS will be prevented from getting a new or renewing their passport. This new law, which went into effect in March 2018, could affect an estimated 363,000 people who fall into this category. At this point, the government is not revoking the passports of those who owe money. It will also send a notice to citizens if their passport application privileges have been revoked.
When a Texas individual is facing overwhelming debt, it can lead to frustration in various areas of life. In addition to growing balances and compounding interest, you may face other debt-related consequences, such as frequent and harassing contact with creditors. Fortunately, there are legal options by which you can deal with your debt.