A new study suggests that distressed borrowers using a simpler bankruptcy process are succeeding — and that more people like them should try.
The process which enables this was introduced during the Biden administration.
A new study suggests that distressed borrowers using a simpler bankruptcy process are succeeding — and that more people like them should try.
The process which enables this was introduced during the Biden administration.
My grandfather never even went to high school. Though he was self educated.
He has his own home. Worked as a janitor for a hospital for a large chunk of his life that paid pretty decently.
But those years are gone.
If minimum wage matched what it did in the 70s with inflation, it would be $20 an hour. It’s half that.
Even when I was 20 (2005) working two minimum wage jobs, I was able to afford my own 1 bed apartment.
Wasn’t great. Was in a bad neighborhood. But I did live alone and was okay.
That’s not possible for people anymore.
And rent is insane. It’s probably went up nearly 30-40% in the last 10 years in a lot of places.
I’m from a very poor rural area where rent typically is $400 for a 1 bedroom.
My mom told me that rent now is like $800 for that area.
For a 1 bedroom.
That was the cost to rent a 2 bedroom house just a few years ago.
Corporations buying up everything. Even in small rural areas.
Trailer courts are also getting bought up and people are abandoning their trailer homes because the lot rental has doubled.
It’s very sad to see.