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      July 21, 2018

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Debt Consolidation in Connecticut

Connecticut MapOver 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.


Connecticut Joins Lawsuit Challenging Federal Tax Law

HARTFORD, CT - Connecticut joined three other states Tuesday and filed a federal lawsuit against U.S. Treasury Secretary Steven Mnuchin and the U.S. Internal Revenue Service over the new new $10,000 c...

Published:  Tue, 17 Jul 2018 08:39:00 GMT

Connecticut and others file promised lawsuit against Republican tax law

Connecticut joined three other northeastern states in a lawsuit Tuesday contesting new limits on federal tax deductions - aimed primarily at a dozen states that voted against President Trump in 2016. ...

Published:  Tue, 17 Jul 2018 14:02:00 GMT

Connecticut Joins Lawsuit Fighting Cap On State And Local Tax Deductions

Connecticut is joining New York and two other states in a lawsuit challenging the federal tax law passed last year by Republicans in Congress and signed into law by President Donald Trump. The states ...

Published:  Tue, 17 Jul 2018 15:48:00 GMT

Connecticut, three other states sue feds over tax deduction limits

Claiming their states have been unfairly targeted, the attorneys general of Connecticut, New York, Maryland and New Jersey filed a lawsuit Tuesday morning challenging the cap on state and local tax de...

Published:  Tue, 17 Jul 2018 10:15:00 GMT

High-tax blue states sue Trump administration over cap on treasured deduction

claiming the Republican tax overhaul singles them out by capping treasured deductions. The lawsuit from New York, New Jersey, Connecticut and Maryland amounted to their latest bid to fight the limit o...

Published:  Wed, 18 Jul 2018 10:15:00 GMT

Four states sue federal government over GOP property tax law changes

Following through on a threat made in January, the states of New York, Connecticut, Maryland, and New Jersey are suing the federal government over the Republican-led tax reform bill, which President D...

Published:  Tue, 17 Jul 2018 12:59:00 GMT

Connecticut Joins Other States in Suing Federal Government Over Cap on Federal Tax Deductions

Your article was successfully shared with the contacts you provided. Connecticut Gov. Dannel Malloy. Photo by Andrew Harrer, Bloomberg Claiming the new $10,000 cap on the federal tax deduction for sta...

Published:  Tue, 17 Jul 2018 12:19:00 GMT

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