Connecticut residents love to see their state ranked near the top of many lists. It is always encouraging to know that one's state may rank highly as a good place to live or have wonderful educational facilities. However, being close to the top on certain rankings isn't always positive. As many consumers are struggling financially and in need of debt relief, it is not edifying to see the state nearly top the list of areas with the most credit card debt in the nation.
The government has been shut down for over a month now, and it has caused financial stress to Connecticut families and others all across the nation. While some households of government employees have lost one -- or both -- sources of income, many are certainly wondering how their bills are going to be paid. It is encouraging to see numerous local or national restaurants offering free meals to those furloughed employees. Now, one state has proposed legislation that will protect the employees affected by the shutdown from potential asset forfeiture, and other federal relief may be on the way.
Residents of Connecticut and elsewhere around the country often think of milestones as things to celebrate. Personally, birthdays and anniversaries are marked each year. On a national level, the government recognizes when the population reaches new records or unemployment hits an all-time low. However, some milestones are indicative of the financial struggles many are facing. These statistics reflect the need for debt relief for many consumers.
Some Connecticut residents and others around the country may be dreading the arrival of their credit card bills this month. It can be easy to overspend during the holiday season, yet difficult to face the aftermath when the statements arrive. Yet those in need of debt relief who already struggling to make ends may only be able to make the minimum payments due each month. Experts share how this practice can affect a person's long-range financial situation.
Many Connecticut consumers have credit cards and use them for everyday purchases. Over the holidays, people tend to spend more money and use their credit cards more often, leading to higher balances. For some people, holiday spending can lead to balances they cannot manage. With the addition of rising interest rates, missed payments and other difficult financial factors, a person may need to look for debt relief options.