Tag: Personal

Personal bankruptcies plunge during pandemic, but ‘a flood’ could be on the horizon

Even as the coronavirus pandemic battered the economy, forcing tens of millions of workers to file for unemployment and shuttering businesses large and small, a surprising trend emerged: The number of people filing for personal bankruptcy plunged.

In April, consumer bankruptcies dropped 47% from the same month last year, while May filings were down 43% year over year, according to the American Bankruptcy Institute. For the first half of the year, bankruptcies were 24% lower than the first six months of last year.

Experts pointed to numerous factors for the slowdown. 

Courts and attorneys’ offices remained closed during state shutdowns.

Read more

TIME and Red Ventures Partner to Launch NextAdvisor, a New Site for Trusted and Accessible Personal Finance Content

Available for free, NextAdvisor will break down the fundamentals of financial wellness to help audiences navigate this period of economic uncertainty and secure their financial future

(June 22, 2020 –New York, NY and Charlotte, NC) — Today, TIME and Red Ventures launch NextAdvisor, a new personal finance site on Time.com that aims to empower audiences to make smart financial decisions and achieve their financial goals through accessible and trusted information.

NextAdvisor is a free resource that will feature time-tested strategy guides, new perspectives on the economy, analysis of the latest tools and products and reported stories that complement TIME’s editorial

Read more