Medvesky Law Office, LLC

04/29/2026

"The hidden cost of debt ..
'Americans are already in serious delinquency, and the picture does not show signs of improving,' said Austin Kilgore, an analyst with the Achieve Center for Consumer Insights. In a recent survey, Achieve, a digital personal finance company, found that more than half of consumers (51%) have taken one or more risky financial actions after falling short on what they owe — including drawing down emergency savings, missing payments on existing debt or skipping medical treatment.

'What’s important to understand is that the longer this goes on, the deeper the hole becomes,' Kilgore said. 'Once a consumer starts missing payments and delaying (or forgoing) health care, more negative actions take place and the situation becomes harder to reverse,' Kilgore added..."

It is funny this article talks about ways to dig yourself out of the financial hole. It mentions Debt Settlement but not personal bankruptcy. There are benefits to filing bankruptcy.

We analyzed consumer debt data to find where Americans are most burdened by debt — and whether they’re treading water or struggling to stay afloat.

02/10/2026

Feel like money is tight. Check out this article. It may give you some insight and ideas how to clean up your finances before you dig a hole you cannot climb out of.

"... Nearly 1 in 10 millennials (8%) waste money every day, while 32% of Gen Z say boredom drives unnecessary purchases, according to a Motley Fool Money survey...
Younger generations are far more likely to admit they waste money, and do so more frequently. While just 1% of baby boomers say they waste money daily, that figure jumps to 6% among Gen Z and 8% among millennials.

Seventeen percent of Gen Z and 16% of millennials say they waste money a few times a week, far outpacing Gen X and boomers. And when it comes to self-control, boomers are twice as likely as Gen Z to say they never waste money.

Roughly 40% of millennials and 37% of Gen Z admit to wasting money a few times a month, compared to 75% of boomers who say they waste money less than once a month or never...
One of the most effective steps is separating spending money from savings. Moving excess cash out of a checking account, where it's easy to spend, and into a high-yield savings account or, for longer-term goals, a certificate of deposit (CD), creates a clear mental boundary. Money labeled as savings and kept in a separate account is less likely to be spent impulsively..."

Discover wasteful spending trends -- and how high-yield savings accounts and budgeting tools can help curb impulse buying and grow your cash.

01/23/2026

https://www.cbsnews.com/news/chapter-7-bankruptcy-mistakes-to-avoid-if-youre-filing-in-2026/

Filing for Chapter 7? Avoid the errors that could derail your bankruptcy case or leave you worse off financially.

01/20/2026

https://www.cbsnews.com/news/bankruptcy-filing-rise-consumer-business-epiq/ #

The increase in bankruptcy filings comes as Americans face a slate of economic pressures, from sticky inflation to elevated borrowing costs.

12/12/2025

https://www.nerdwallet.com/finance/learn/chapter-7-bankruptcy

Chapter 7 bankruptcy can erase your overwhelming debt, such as from credit cards or medical bills. Here's what you need to know about Chapter 7 bankruptcy and how to file.

06/06/2025

81 years ago, 2,501 great American men gave their lives so we could have our freedom.

Today, we honor their sacrifice and remember their bravery and courage.

04/18/2025

"If you want to get out of debt, making more than the minimum payment every month isn’t optional. It’s essential, experts say. And the edge you can give yourself in managing your debt is to be strategic about it."

Credit card debt is at a record high. And a common myth could make it worse.

03/27/2025

"'If you are raiding pension or other retirement assets, that is a red flag,' said Lawless, noting those funds are protected from creditors in bankruptcy. Borrowing money to cover current expenses is another warning sign, he offered.

Americans struggling to stay financially afloat should consider debt relief before tapping into retirement accounts, experts say.

03/12/2025

I recommend paying attention to the part "When you shouldn't take out a personal loan to pay off debt"

A personal loan can be a good solution for paying off your existing debt, but it's not always the best choice.