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August 2017 Archives

Payday loans do not provide debt relief

It is not uncommon for people in Connecticut to find themselves short of cash with days to go before the next paycheck. Whether it happens because of poor planning or unforeseen circumstances, it is never a pleasant feeling. In fact, it may bring a sense of panic if there are bills left unpaid and necessities to purchase. While it may seem like temporary debt relief is better than none, some find themselves digging deeper into debt by using quick fix loans in times of desperation.

Credit card debt still common reason for Chapter 7

Shopping with a credit card has its advantages. Along with the convenience and the ability to purchase items that may otherwise be unaffordable, some credit cards offer perks for their loyal customers. However, consumer advocates may be concerned about the dramatic increase in the required spending to earn those attractive perks, especially since credit card debt is one major factor when consumers in Connecticut and elsewhere file for Chapter 7 bankruptcy.