Loan applications and many job applications ask if you have ever filed for bankruptcy. Ever. If you lie to get a loan because your bankruptcy is very old, technically you have committed criminal fraud.

While the aspect of having your overwhelming and staggering pile of debt turn into a "done deal" is extremely attractive, the reality is that it is rarely as simple as that, especially in light of the recently changed bankruptcy laws. For example, did you know that in bankruptcy:

* You may not even be able to file. No longer is this done on a whim. The courts will examine your financial situation and your income, and needs to approve your bankruptcy before you can file. There is no guarantee that you will be granted this approval. [Read More!]

Interest Rates Have Nowhere to Go but Up

On Sunday April 11, 2010, 1:00 pm EDT

New York Times

Even as prospects for the American economy brighten, consumers are about to face a new financial burden: a sustained period of rising interest rates.
[Read More!]

So much for the "expected" -500 million print:

Consumer credit decreased at an annual rate of 5-1/2 percent in February 2010. Revolving credit decreased at an annual rate of 13 percent, and nonrevolving credit decreased at an annual rate of 1-1/2 percent.
[Read More!]