Owning a credit card can be a double edged sword. On the one hand, credit cards are extremely helpful when it comes to building good credit. One the other hand, having one or multiple credit cards in your wallet can tempt you to spend more money than you make. The reality is that many people in Oregon are facing overwhelming credit card debt. If you are tired of being tied down by your debt, there are ways to live without credit cards.
July 2013 Archives
When it comes to healthcare costs, some people in Oregon mistakenly believe that health insurance will protect them from medical debt. Unfortunately, this is not always the case. Life is full of surprises, and even people with medical coverage can find themselves with overwhelming debt.
When a person files for bankruptcy, there is a different set of guidelines that must be followed depending on the situation. Those who owe debtors a certain amount of money may be able to keep certain goods they have purchased under federal and state exemptions to bankruptcy laws. Federal exemptions are changed every three years to account for changes in the Consumer Price Index, and these exemptions are only available to consumers during bankruptcy proceedings. The difference between state and federal laws in amounts allowed for exemptions is the most obvious with the Wildcard exemption used by many consumers during the bankruptcy process.
When a person or family in Oregon chooses to invest money in a company, they often place their trust in the person who is handling their investment, which may often be some sort of financial planner or company owner. Although all investments require some sort of risk on the part of the investor, these risks may be lessened if the person handling the actual money is honest, trustworthy and obeys the law. In bankruptcy situations that are complicated and dishonest, the effects may be far-reaching and may even continue for years to come.
People in Oregon go into debt for many different reasons, but one reason that is becoming increasingly debilitating is paying for a college education. Student loans are given to a college student by the government, and must be paid back with interest in many cases. As the cost of obtaining a college degree increases, many students are also paying more in interest as Congress fails to find a compromise on arguments over student loan rates. Even those with college degrees are looking for ways to get debt relief and reorganize debt to a point where it is manageable.