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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

Cabbies release flowers to mourn eighth suicide this year, implore city to help with crushing debt

Desai called for a debt relief program to restructure medallion loans. Her group is also trying to find a way to eliminate 20% of medallion owners' outstanding debt. Medallions, which give taxis the r...

Published:  Sun, 18 Nov 2018 03:25:00 GMT



Tips To Get Out Of Spending For The Holidays Shared By National Debt Relief

Holidays are fast approaching and it is synonymous to huge expenses that is why National Debt Relief shares some handy tips to manage holiday spending better. The article titled "How To Get Out Of Spe...

Published:  Sun, 18 Nov 2018 07:11:00 GMT



Should You Invest Or Pay Off A Debt

You may also consider the risk involved in borrowing any additional credit, such as a debt consolidation loan, to repay your debts or draining all your resources into repaying your debt along with ...

Published:  Mon, 19 Nov 2018 01:52:00 GMT



State projects in limbo as wages, debt eat up revenue

Salaries and debt repayment are taking the lion's share of Kenya's revenues, casting doubt on the effectiveness of the country's fiscal consolidation efforts. ALSO READ: Treasury holds Sh50b as auster...

Published:  Sun, 18 Nov 2018 13:05:00 GMT



Tanzania Debt 'Sustainable but Under Pressure'

Tanzania, and other poor countries, enjoyed debt relief under Heavily Indebted Poor Countries (HIPC) in November 2001. At the end of last year 54 per cent of countries in the Sub-Saharan had an ...

Published:  Sat, 17 Nov 2018 04:45:00 GMT



Pot stores consolidate to survive weak market

Sweet Relief has five locations on the North Coast and inland to ... capital is that marijuana business owners can't access traditional financing, such as loans, because of federal prohibition, Whitne...

Published:  Sun, 18 Nov 2018 05:24:00 GMT



FDIC: Regulatory Relief-Guidance to Help Financial Institutions and Facilitate Recovery in Areas of California Affected by Wildfires

consideration for community development loans, investments, and services in support of disaster recovery. * The FDIC also will consider regulatory relief from certain filing and publishing ...

Published:  Sat, 17 Nov 2018 17:26:00 GMT



Closed-End Funds Seeing Consolidation

"We welcome inquiries from other closed-end funds whose shareholders may be attracted to an emerging markets equity income strategy about joining the consolidation," according ... Municipal debt CEFs ...

Published:  Fri, 16 Nov 2018 23:00:00 GMT



Trump Loses To Obama With Student Debt Relief Ruling On For-Profit Colleges

The for-profit college industry will further challenge an Obama-era rule granting student debt relief despite the mandate going into effect this week. Trump's Department of Education, criticized for s...

Published:  Fri, 19 Oct 2018 04:32:00 GMT




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