There are numerous circumstances in which an individual could begin to experience difficulty keeping up with monthly expenses. Many individuals in Oregon and elsewhere carry credit card balances that may be manageable at first, but should one fall behind, the outcome could be disastrous. When similar accounts are past due, interest rates can soar, potentially leaving a person in dire financial straights and in need of relief.
Posts tagged "Credit Card Debt"
Many individuals in Oregon and elsewhere have experienced periods of significant financial difficulties throughout life. Dealing with overwhelming debt can often be stressful and challenging, prompting many to seek advice in overcoming it. When considering the available options, one might wish to know if consumer bankruptcy is the correct path for his or her current predicament.
Credit cards are an important part of financial health in Oregon and throughout the country, and if you use yours at all, that debt does not necessarily have anything to do with the state of your budget. If your situation is keeping you up at night, though, you may want to think about ways to reduce the amount of your income that is going toward your montly payments.
After a death in Oregon, a spouse or other family member may discover that the deceased had a considerable amount of credit card debt. This could be uncovered as the executor or administrator of the estate gathers the information on assets and debts, or it may be that creditors begin to call and request or demand payment. In some cases, these calls are not legal, but a family member needs to make sure that he or she is not on the hook for the accounts.
From the loss of a job to medical problems that were never expected, people experience financial hardships for all sorts of different reasons. Sometimes, people in Eugene and across Oregon decide to take on credit card debt. However, this can be a costly decision and some struggle with paying off credit cards later on.
As you are aware from previous blog posts, when you file for bankruptcy, you need to be completely honest about your employment and financial situation. The same honesty is just as crucial if you are called in to a debtor’s examination. This procedure may be a daunting experience for you and other Eugene residents; however, it is not one that you can avoid if you are summoned. Therefore, it may help to understand what happens during this process.
Debt, whether it comes from credit cards, auto loans, medical bills or other sources, continues to be a top cause of financial strain for people in Eugene and elsewhere. Student loan debt also falls into this category. In fact, student loans can be more difficult for consumers to deal with, since, unlike credit card debt, federal student loans cannot be discharged through bankruptcy in most cases.
After experiencing financial difficulties, you may be quite familiar with seeing notices from debt collectors, instead of bills from the original creditors. This is because after a debt has been delinquent for some time, many lenders sell the debt to a third-party collection agency, who then attempts to collect the amount owed. You, along with many other Eugene residents, may wonder if you are required to pay a collection agency instead of the original company.
The Fair Debt Collection Practices Act was put into place to protect residents of Eugene and elsewhere from being abused, harassed and mistreated by companies that are trying to collect debts. If you have debt that was sent to collections, you may be familiar with harassing phone calls and letters by creditors, which may cause you a great deal of stress and, in some cases, could be illegal.
For Eugene residents who are having financial problems, a job interview can be hopeful and exciting. However, some might have been warned that prospective employers conduct credit checks before hiring. It is important to understand what may be conducted during the interview process, as well as whether a credit check by an employer is legally permissible.