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August 2019 Archives

Scammed students could benefit from bankruptcy

It is no secret that there is a student loan crisis in the United States. Both current and former college students in Connecticut may feel desperate to find a way to repay those loans, but rising tuition costs and stagnant wages have made it nearly impossible for many people. Unfortunately, thousands of students have claimed that they were scammed into student loans by their schools. These individuals and other people may not have considered that bankruptcy could be a more effective strategy for dealing with this type of debt.

Not sure how personal bankruptcy works? Read this

Filing for bankruptcy is a way for people in Connecticut to address their debts that they can no longer repay. However, the process is much more involved than simply filing and then waiting for debt to disappear. There are generally two types of personal bankruptcy that consumers can use -- Chapter 7 and Chapter 13. Here are a few things that may help individuals better understand the process of personal bankruptcy.

Why are so many baby boomers filing for bankruptcy?

Financial trouble can strike at any age and for virtually any reason. Even those who feel as if they have adequately prepared for emergencies should understand that it is impossible to foresee everything that might come up in the future. These types of financial troubles seem to be particularly troublesome for baby boomers in Connecticut. Many are turning to bankruptcy as a result.

Bankruptcy an option for consumers eager to decrease debt

The current unemployment rate in America is relatively low, but that does not mean that some Connecticut consumers feel confident about the future. Reducing debt is a priority for many people right now. However, some people may struggle more than others when it comes to paying off debts. For these individuals, bankruptcy could be a smart choice.

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