One of the biggest challenges for people facing high debt loads is deciding whether to aggressively pay down debt or save some money to avoid needing another loan in the future. Connecticut individuals facing this debt management dilemma should consider many factors when deciding whether to save or pay down debt. Steps can include reviewing their cash flow, clarifying access to lower interest credit and reviewing household budgets.
The high cost of education and limited opportunity to earn income can make it difficult to have a healthy financial life in college. For Connecticut students, graduation often comes with major debt management questions. How much should they set aside for savings versus debt repayment? What does a healthy budget look like? Here are a few tips that can help recent graduates get off on the right financial foot.
When considering whether to file for bankruptcy, it is not unusual for someone to hear advice about contacting creditors in an effort to have debts lowered or forgiven. But is debt relief and forgiveness a myth, or can indebted Connecticut residents really get their amounts owing reduced by a credit card company? The truth is that debt forgiveness can happen, depending on the lender, but it often comes with some strings attached.
Reaching retirement is often a time in life that many Connecticut residents look forward to, especially if that time is near. Hopefully, individuals have utilized retirement accounts to give themselves a nice nest egg to live on after they stop working. However, many older individuals appear to be struggling financially as of late, and numerous baby boomers are filing for personal bankruptcy.
Many entrepreneurs have hit financial snags on their way to success. But in the current financial landscape, modern business builders in Connecticut may wonder if business loans are obtainable for those with a history of personal bankruptcy. Luckily, lenders often have options for people with a less-than-ideal credit history.