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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.

 

Hamden Plans To Go After Car Tax Scofflaws

HAMDEN, CT - The town of Hamden is taking the first step in trying to stop people who live in town and skip paying car taxes by registering their cars in other states. The town recently released a req...

Published:  Fri, 16 Nov 2018 09:10:00 GMT



Surging tax receipts dramatically shrink hole in next CT budget

State tax revenue projections surged again Tuesday, shrinking the projected shortfall in the upcoming two-year budget - and leaving Connecticut with a nearly $2.1-billion war chest to combat the ...

Published:  Tue, 13 Nov 2018 12:28:00 GMT



Malloy offers Lamont a blueprint to balance next CT budget

Gov. Dannel P. Malloy outlined a compromise path Thursday that would allow Gov.-elect Ned Lamont to modestly tap Connecticut's reserves to avoid tax hikes - and still leave a sizable fiscal cushion to ...

Published:  Thu, 15 Nov 2018 14:55:00 GMT



4 Tax Surprises You Might Face in Retirement

Even if you manage to avoid federal taxes on your Social Security income, your benefits might get taxed at the state level if you live in one of the following 13 states: Colorado, Connecticut, Kansas, ...

Published:  Sun, 18 Nov 2018 03:38:00 GMT



Significant Change In Connecticut Budget Deficit

HARTFORD, CT - Connecticut's upcoming budget crunch ... changes- such as the changes made to the pass-through entity tax- are working and helping taxpayers," said OPM Secretary Ben Barnes.

Published:  Wed, 14 Nov 2018 07:37:00 GMT



A Big Tax Break for Socially Responsible Investing

In Connecticut, South Norwalk, a bustling restaurants and arts area, is on the list. So are East Austin, Tex., where property taxes are rising quickly as property values soar, and Oakland, Calif., whi...

Published:  Fri, 09 Nov 2018 09:18:00 GMT



Report: CT's debt costs likely will grow faster than its revenues

Despite a 12-month surge in state tax receipts, Gov. Dannel P. Malloy's budget office warned Thursday that Connecticut's pension obligations and other debt will grow faster than revenues in ...

Published:  Thu, 15 Nov 2018 14:06:00 GMT



Hamden Looks to Collect Taxes on Out of State Registrations

... to catch people who register their cars out-of-state and avoid paying local taxes. It's a similar battle other communities in the state have waged, as NBC Connecticut Investigates has revealed. On ...

Published:  Wed, 14 Nov 2018 19:16:00 GMT



Defeated Connecticut Republicans self-assessing

Connecticut Republicans are licking their wounds and performing ... "It's really amazing, given the inherent problems that have beset our state: taxes, the deficit, the infrastructure problems are sev...

Published:  Mon, 12 Nov 2018 15:27:00 GMT



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