There was a time when earning six figures meant financial security. A reliable sign that your family was doing “well.” But today, more and more households earning $100,000 or even $150,000 a year are discovering that income alone can’t keep pace with the cost of living. Mortgage rates, car payments, grocery bills, health insurance, and now the resumption of federal student loan repayments have combined to put tremendous strain on even the most disciplined budgets. For many middle-class families inRead more

The Federal Reserve’s recent decision to cut interest rates (again) has dominated financial headlines, but many consumers are left wondering: What does this actually mean for me? Whether you’re managing existing debt, thinking about taking on new credit, or considering bankruptcy, interest rate changes can have a surprisingly direct impact on your financial life. Below, we break down what the rate cuts mean for everyday consumers and what steps you may want to consider now. Lower Interest Rates on NewRead more

If you’ve been feeling financial pressure this year, you’re not alone. Many Iowans are struggling to keep up with credit cards, medical bills, and small business debt as tariffs, government shutdowns and inflation continue to hit the local economy. But here’s the good news: bankruptcy filings are rising nationwide and that means more people are finding real relief and a fresh start. Filing for bankruptcy doesn’t mean failure; it means you’re taking back control of your finances. Bankruptcy Filings AreRead more

President Trump and Congressional Republicans have forced drastic cuts to Medicaid and other social programs that helped people pay for needed medical care, food and energy. The cuts to Medicaid will almost certainly increase the number of people who are forced to file for bankruptcy due to the financial strain caused by unaffordable medical expenses. Medicaid is the primary source of health coverage for millions of low-income individuals, children, people with disabilities, and the elderly. When funding is reduced, statesRead more

People facing debt collection are often tempted to dip into retirement funds to pay debts. While this has never been a good idea, using up retirement funds to pay debt is increasingly risky with the recent projection that the Social Security trust fund will be depleted by the year 2034. Beginning in 2034 it’s now expected that Social Security recipients will have their benefits cut by nearly 20%. The outlook for Medicare is equally dismal, with benefits projected to beRead more

Bankruptcy inquiries are surging to their highest level since early 2020, signaling a potential wave of filings in 2025. Record consumer debt and new tariffs could push financially strained households past their breaking point. Trump’s tariffs, especially on Chinese goods and other imports (like steel and aluminum), have raised costs for American businesses that rely on those materials and components. Many companies have passed those costs onto consumers in the form of higher prices, contributing to inflation. These tariffs haveRead more

One of the many harmful actions the Trump Administration has taken is the shuttering of the Consumer Financial Protection Bureau (CFPB). This shortsighted move could have serious consequences for consumers, potentially leading to more individuals needing to file for bankruptcy. Here’s how: Increased Predatory Lending and Deceptive Practices The CFPB plays a key role in regulating payday lenders, mortgage servicers, credit card companies, and other financial institutions. Without the CFPB’s oversight, predatory lenders could engage in deceptive or abusive practices,Read more

Total household debt increased to nearly $18 trillion in the third quarter of 2024. The bulk of that debt is tied to mortgages but credit cards and auto loans total nearly $3 trillion of the total debt. Student loans total another $1.6 trillion. Even more concerning about the household debt picture is that delinquencies on these debts also remain high and are growing. About 3.5% of all debt is delinquent, meaning borrowers will be facing debt collection and foreclosure unlessRead more

On Christmas Eve, December 24th, Pope Francis officially began the Year of Jubilee in 2025. The Year of Jubilee, rooted in ancient Israelite tradition, is described in the Bible (Leviticus 25), as a special year of economic and social reset. The year of Jubilee carried profound implications for forgiveness of debt and the lives of debtors. In the year 2025 Pope Francis called for “a new world where peace and justice reign.” As part of the Catholic church’s Jubilee recognition,Read more