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Debt Consolidation in Connecticut

Over 77 million Americans are in debt from overextended credit cards, medical bills, utility bills and even child support payments. Of the consumers in Connecticut who are in debt, 74.4 percent are behind in their mortgage payments.

Considered one of the wealthiest states in the nation - with the third-largest number of millionaires per capita in the country - it also has the greatest disparity in incomes among its residents of any state.

Consumers who find themselves in the midst of a credit crunch have options. They can seek out credit counseling, apply for debt consolidation programs or if necessary, apply for bankruptcy. While deciding how best to handle their debt, consumers do have protections in place.

Many credit counseling services in the state offer a free counseling session to consumers who are struggling. These agencies often are able to help consumers negotiate lower payments to creditors and consolidate their debt into one convenient monthly payment. Consumers can pay off debt in as little as two to four years using one of these services.

Consumers who do not qualify for debt consolidation may have to claim bankruptcy. Chapter 13 bankruptcy allows consumers to work toward paying off debt while still keeping possessing of certain personal property, including homes. Chapter 7 bankruptcy is for those consumers who wish to absolve their debt without repaying anything to creditors. Those who opt for bankruptcy can expect it to negatively affect their credit rating for up to seven years.

 

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Debt Consolidation In The News

Employer-paid student loan repayment help could be coming

"This fits in the center of their Venn diagram." They also put the onus of this student loan debt relief on employers, rather than on the federal government, making it an attractive option for each. " ...

Published:  Mon, 18 Feb 2019 06:11:00 GMT



Student debt relief is union work

AFT leaders in Massachusetts know that supporting our members goes beyond what happens in the classroom, or the schoolhouse, or even the Statehouse. That's why, when the AFT started offering student d...

Published:  Fri, 15 Feb 2019 13:38:00 GMT



Fight Substance Abuse, Get Your Student Loans Paid

It's always exciting to be able to announce a new programs that can provide relief to student loan borrowers. The National Health Services Corp (NHSC), a federal agency, has established a new student ...

Published:  Sat, 16 Feb 2019 07:01:00 GMT



Tips To Strengthen Finances Before Another Recession Shared By National Debt Relief

The last Recession in 2008 affected a lot of people that is why National Debt Relief shares this article to help people prepare for another recession. The article titled "How To Strengthen Your Financ...

Published:  Thu, 14 Feb 2019 08:40:00 GMT



Africa: East Africa Bloc Lauds AU for Support to Cancel Somalia Debt

"Somalia's efforts at peace consolidation are constrained by the debt burden that prevents it from accessing concessionary financing and normalizing relations with International Financial ...

Published:  Mon, 18 Feb 2019 05:08:00 GMT



McClatchy And Tribune Could Merger, Hundreds Of Jobs At Risk

Debt service per year could be in the tens ... It offered a buyout to 450 people, about 13% of its total staff. The consolidation of the newspaper industry will continue as a means to cut costs ...

Published:  Mon, 18 Feb 2019 04:27:00 GMT



Karnataka Debt Relief Bill a boon to farmers

BENGALURU: The Legislative Assembly passed the Karnataka Debt Relief Bill-2018 on Wednesday, to ease the burden on the wallets of small farmers, landless agricultural labourers and the economically we...

Published:  Wed, 13 Feb 2019 16:00:00 GMT



Bill seeks to incentivize MT child protective specialists with student loan relief

HELENA - Charles Asmus, a child protective specialist in Montana, told the House State Administration Committee Wednesday that he'll owe about $190,000 after he gets his doctorate. But, he ...

Published:  Thu, 14 Feb 2019 13:08:00 GMT



Relief! Employer-Sponsored Student Loan Benefit Bill Introduced

Americans have too many immediate expenses to pay to even consider long-term saving, the theory goes, one of which the outrageous saddles of student debt. To offer relief, and encourage retirement pla...

Published:  Fri, 15 Feb 2019 10:50:00 GMT



The world is swimming in a record amount of debt, and there's no relief in sight

Last year, the world's debt rose to $244 trillion, or 318% of global GDP, according to the Institute of International Finance. The world is now "pushing at the boundaries of comfortably sustainable de...

Published:  Wed, 13 Feb 2019 16:57:00 GMT




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