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Debt Relief Archives

A history of credit cards, and maybe the need for debt relief

For those in Connecticut who've been wondering about the history of consumer credit, a recently published article could shed a great deal of light on that topic. It may be hard to believe in the age of easy-access credit, but there was a time in American history when credit was extended from one party directly to the other, requiring a face-to-face transaction. In today's world, credit cards are seemingly everywhere, and consumers can expect to never lay eyes on the people who process those accounts and bills. Learning more about the history of credit can also illuminate the need for debt relief

Debt relief: Which bankruptcy chapter fits the circumstances?

Many Connecticut residents are struggling to keep their heads above financial waters. Some are merely experiencing minor setbacks and simply have to cut back on spending a bit to get things back on track. For others, however, additional measures might be necessary, such as exploring debt relief options, including the possibility of filing for Chapter 7 or Chapter 13 bankruptcy.

Even responsible consumers sometimes require debt relief

When most Connecticut residents think about insurmountable debt, they often envision an individual who has embraced indiscriminate spending and other questionable actions. In reality, however, many people find themselves in serious need of debt relief, even those who have carefully managed their money throughout their adult lives. According to a recent survey, 38 percent of Americans who have a credit score at or above 660 are currently struggling with high credit card debt.

Study focuses on reasons behind need for debt relief

Virtually all Connecticut residents have struggled with debt at some point in their lives. Whether debt comes from an unexpected medical issue, a college education or simply the need to replace a car engine, it can be stressful to live with the knowledge that those bills are out there, just waiting to be repaid. Many people are not even aware of how they got into serious debt problems. They seek debt relief services, which can relieve some of the pressure. That said, unless a consumer is fully aware of how he or she got into trouble in the first place, there is a significant likelihood that high debt will return in the years to come.

Debt relief scams often target consumers with student loans

Earning a college degree is an exciting accomplishment, and one that can have a marked impact on an individual's future success. However, the fruits of student labor are often delayed for several years, as new graduates enter the Connecticut workforce and take entry-level jobs. During those early years, many people rely on credit cards to make ends meet, with the belief that they will soon enjoy increased earnings as they move up the ladder in their chosen field. Unfortunately, that outcome will not go as planned for some, and the need for debt relief will be significant.

Consumers beware: Debt collecting is going high tech

Anyone who has ever received a telemarketing call knows that those who initiate them can be unrelenting. Even if you put your number on the "Do Not Call" list, they seem to find you. Some of the least desired calls in Connecticut are from debt collectors.

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