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Debt Relief Archives

Debt relief: States with highest average credit card debt

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.

Debt relief: Many approaches available to reduce credit card debt

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.

Debt relief: Pay more than minimum due to credit card balance

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.

Rising interest rates and seeking debt relief

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.

Debt relief: Year-round approach to alleviating holiday debt

Christmas has come and gone for residents of Connecticut and elsewhere around the nation. However, for many, the bills of making that Christmas celebration merry are beginning to arrive. While some consumers were already struggling with their finances and in need of debt relief, the additional bills are not welcome at all.

Debt relief: How credit scores are affected by paying off loans

Many consumers in Connecticut and around the nation are concerned with their credit scores. Higher scores result in more favorable rates for large ticket purchases and a broader selection of options for financing. On the other hand, lower scores may have occurred for those overwhelmed with bills and in situations where they need debt relief. Experts have weighed in on how paying off loans can affect one's credit score.

Debt relief: Credit cards can be useful financial tool

Most Connecticut residents and others around the country see the benefits in maintaining good credit scores. Having high scores is advantageous when an individual seeks to buy a home, vehicle or other large ticket items. For many, opening credit card accounts is an excellent way to establish good financial practices and start building a strong credit history. Unfortunately, some consumers have problems using credit cards over time and may eventually have to seek debt relief to alleviate their financial burdens.

Debt relief: Changes to credit reporting for medical bills

Health care costs have skyrocketed for the majority of Connecticut residents and others around the nation. Despite having insurance, most consumers realize they do not have adequate coverage to pay for treatment of a catastrophic illness or recovery from a serious injury. Many individuals wind up with mountains of medicals bills, significant balances and long-term financial obligations for which they must seek debt relief. However, some recent changes to the way information is sent and recorded on credit reports could alleviate some concerns.

Credit cards useful, yet those who misuse often need debt relief

Credit card debt continues to be a major area of financial concern for Connecticut residents and others around the country. Many consumers have sought debt relief due to the overwhelming burden of debt from credit cards. Though they can lead to problems, experts still contend that credit cards can be useful, if used wisely, and are still an option for payment transactions.

State senator suggests tying student loan debt relief to jobs

Many Connecticut residents and others around the nation are saddled with debt from student loans. Students frequently need funding to complete their educations and loans are often readily available. Unfortunately, it proves difficult for some to repay the loans after graduation while in entry-level jobs. A state senator in another state has suggested a way to provide debt relief to those struggling with student loan debt, while potentially boosting his area's economy.