Consumer debt levels and types are often used to measure overall consumer confidence and the health of the economy to some point. This is true both in Oregon and nationally. When people are more confident, they can be more willing to take on new debt. While this can be a good thing, too much credit card debt can eventually be problematic and leave some debtors facing creditor harassment and other financial challenges.
May 2014 Archives
Debt collection activities can cause great stress and challenges for Oregon consumers. Credit card companies or other businesses can aggressively pursue debtors who cannot afford minimum payments or who are behind on some bills. Many people who face severe creditor harassment may not always know how to get help with either the collection actions or the debts involved.
Consumers in Oregon and around the United States continue to struggle with piles of debt even as the economy improves. For people who cannot afford minimum payments or are behind on regular monthly payments, the need for help to get things back on a better financial track is real. The best solution for one person is not likely to be the same as for another as every person’s circumstances are unique.
Even before the recent recession, many people in Oregon and throughout the country struggled with debt. From credit card debt to medical expenses or tax bills and more, there is no end to the type of debt which can cause serious problems for consumers. Some people try to decide if working to keep paying off debt or if filing for bankruptcy is the better option. There is no one-size-fits-all answer for that as each situation is completely unique.