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

Debt Relief Archives

Debt relief: Which cities have the highest credit card balances?

Topping a national list typically brings celebration to a city. Metro areas are proud to proclaim the news when they have been recognized as a best place to live or an area where the best schools are located. However, being number one on some lists may bring cause for concern. Connecticut has two cities in the listing of areas with the highest credit card debt. This level of debt may leave some consumers searching for debt relief.

Debt relief: Personal loan may help some ease credit card debt

Being saddled with a mountain of credit card debt is quite common for many Connecticut residents and others across the country. Consumers frequently get bombarded with advice on how to reduce or eliminate this type of debt because it can become quite expensive if not paid in a timely manner. One suggestion to provide debt relief from growing credit card balances is to consider taking out a personal loan.

Debt relief: More consumers using credit cards for necessities

Many Connecticut residents and others across the country use their credit cards primarily for large purchases so that they can take advantage of mileage or other reward programs. They are able to pay the bills in full and not incur interest or increasing balances each month. However, there is an increasing number of people who are forced to use their credit cards for basic monthly needs. These consumers are likely struggling to make ends meet and are in need of debt relief.

Debt relief: Debt consolidation loan may be right choice for many

According to recent financial indicators, the economy is improving in several areas for residents of Connecticut and elsewhere around the country. However, what about those individuals who are not seeing any progress in their finances and are, in fact, in need of debt relief to ease their struggles? For many, a debt consolidation loan is a way to minimize the number of payments required each month as well as possibly paying a lower amount of interest overall.

Debt relief: Proposal to cap credit card interest rate at 15%

Many Connecticut residents and others around the country carry a significant amount of credit card debt from month to month. If those consumers were told the interest rate for their credit cards was to be capped at 15%, it would apparently be good news for them at first glance. Since some of the cardholders with large balances are often in need of debt relief, this seems like a positive move for them. However, that plan could end up causing more financial strain on the very people it seemingly would help.

Debt relief: National credit card debt at record level

According to 2018 year-end reports from the Federal Reserve, total revolving debt for the nation has exceeded $1.05 trillion. Of that amount, credit card debt accounts for $870 billion of the total. Connecticut residents and others across the country have nearly 480 million active credit card accounts. While some consumers are able to pay off their balances each month in full, others may just be trying to keep their heads above water financially and are in need of debt relief.

Debt relief: National credit card debt over $1 trillion

Credit cards are a common financial tool for most Connecticut residents and others around the country. Many consumers love the convenience of using a card to buy items or services, while others enjoy amassing points to gain rewards from purchases. However, rampant or uncontrolled use of credit cards can lead to problems. To avoid the need for debt relief, experts warn against the danger of having too much credit card debt and how to eliminate it.

Debt relief: Take steps to reduce debt, start saving

When most people speak of debt, it is usually in negative terms. However, financial analysts do not see all debt as inherently bad. In fact, increases in consumer and business debt are often viewed as signs of a growing economy. Eventually, however, debt relief may be sought by Connecticut consumers and others around the nation when the level of debt has created financial problems for them. Experts strongly suggest taking steps to eliminate consumer debt in order to achieve other long-term financial goals.

Debt relief: Cities with the highest average credit card debt

Recent data revealed that consumers in this country have exceeded $1 trillion in credit card debt. This translates to roughly $9,000 of debt for each household, according to reports. Understandably, this has propelled many families across the nation into the need for debt relief. There are, however, several cities that far exceed the average level of household debt. Unfortunately, two cities in Connecticut are in the top 10 in the nation with the highest averages.

In need of debt relief? Time for some financial spring cleaning

Spring has arrived in Connecticut and all across the nation. Many individuals set apart time for "spring cleaning" and give their residences extra attention as they begin a new season. This process can be applied to someone's budget as well. Some consumers are in need of debt relief because their finances have been left unattended, and credit card balances have continued to mount. Experts recommend developing a plan to clean out debt and get one's financial house back in order.