If your like several other people, you are also struggling to make ends meat. This article discusses how daily life can lead into bankruptcy. Today’s quick fix : cars, water heaters) can lead you to a life of debt and stress. How in the good lord’s name can someone get themselves in 25k of credit card debt? Read to find out..

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Several factors play into the losses. First of all, record default and foreclosure rates are killing mortgage companies and the firms that have invested in them.

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CNNMoney.com is reporting that JC Flowers and Co are making a bid for Northern Rock, PLC - a huge (and dying) mortgage lender in the United Kingdom. CNN calls Norther Rock “the biggest casualty of the global credit crunch.”

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