Law Offices of Jennifer LaRese, LLC
Call Today 203-583-8668

June 2018 Archives

Waiting to file Chapter 7 bankruptcy can be problematic

It is a common misconception that filing for bankruptcy represents some kind of personal shortcoming on the part of the individual or the family, but many experts would argue that it can be a valuable tool in debt reduction. In Connecticut and across the country, a Chapter 7 bankruptcy filing can actually help get someone out of debt faster and more effectively than attempting to slowly dig out of a financial sinkhole. However, waiting on a necessary filing can cause more harm than good.

Seeking debt relief from credit card debt

Credit card debt is among the most frustrating types of debt to pay down, as some American citizens can speak to from personal experience. Here in Connecticut, many families seek debt relief options to mitigate the weight of spending debt. Thankfully, there are a variety of strategies to help any family, from those with minor debt to those considering bankruptcy.

Determine whether Chapter 7 or Chapter 13 bankruptcy is best

Most people in Connecticut or any other state have experienced financial challenges at some point. How swiftly or easily one is able to overcome such problems often hinges on the types of resources available and what specific solution is chosen as a best course of action. The problem is that determining the answer to that question is often difficult. For instance, the average person may not understand the differences between Chapter 7 and Chapter 13 bankruptcy; therefore, figuring out which one best fits a particular situation can be challenging.

The link between credit cards and debt relief

Apart from student loans, credit card debt is one of the biggest sources of money owed by the American population. Here in Connecticut, individuals and households facing serious debt problems are constantly on the lookout for debt relief options. Interestingly, there are ways to leverage the very credit card that accrued the debt in the first place. Of course, for those with crippling debt problems, multiple other options are also available.