Debt refinancing is quite elementary and often used as a financial equalizing tool. More often than not, consumers experiencing the onset of financial difficulties may turn to mortgage refinancing to ease the burden through lower interest rates, avoid foreclosure or possible bankruptcy.
For many, the fine line between financial solvency and financial distress is quite thinner than many care to admit. The decline of financial stability often presents the acceptance that bankruptcy may be looming around the next corner.
As a society we have become accustomed to labeling different generations with short and catchy nicknames. Currently we have Generation X for those born from 1965 through 1979; Generation Y for those born from 1980 through 2000; and lastly we have Generation Z for those born from 2001 through the present.
The rate at which professional football and basketball players are filing for bankruptcy after retirement is being discussed with increasing frequency across the NFL and NBA. The issue is not confined to those to sports alone, though, as some of the biggest athletes in a variety of sports – Warren Sapp, Dennis Rodman, Mike Tyson, Marion Jones – are broke.